China State Construction Engineering Corporation Ltd (CSCEC), China's largest construction and real estate conglomerate as well as the biggest building work contractor, and CRRC Corporation Limited (CRRC), the world's leading supplier of rail transit equipment, signed an agreement of strategic cooperation on March 22, 2016.
Based on the agreement, the two parties will carry out cooperation on investment and construction in a bid to jointly promote China's rail transit equipment to "go out."
"With the deepening implementation of the Belt and Road Initiative, the cooperation between the two flagships in their respective industries will help them expand market shares in the countries along the routes of the Belt and Road," noted Soochow Securities.
Industry insiders remarked that as two major directions for Chinese enterprises to engage in the Belt and Road Initiative, construction and rail transit equipment are the optimal choice for China to export production capacity and capital to the world.
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