China will seek breakthrough in overseas expansion of its high-speed rail and enhance the international competitiveness in 2016, said Sheng Guangzu, general manager of China Railway (CR), the national railway operator, at a recent conference.
China will strive to win several overseas projects, including the high-speed rails from Moscow to Kazan, the US Xpress West high-speed railway project connecting Las Vegas and Los Angeles, Malaysia-Singapore high-speed rail and a railway across South America and Tanzania-Zambia railway.
Improving core technology is also the key task of the CR this year, said Sheng.
China's railway equipment has become the main contributor to promote the capacity cooperation between China and overseas countries. Chinese President Xi Jinping will propose the high-speed rail agreement with Iran during his ongoing visit in the Middle East.
In 2014, the value of deals on railway cooperation exceeded 130 billion yuan, involving six continents.
Currently, the overseas large projects under construction include railways linking China and Laos, China and Thailand, and the rail between Hungary and Serbia.
The 140-kilometer high-speed rail linking Indonesia's capital city of Jakarta and Bandung, which began construction on Jan. 21, 2016, is a milestone in the export of China’s high speed rail. The two sides signed the agreement on Oct. 16, 2015 and it is China’s first overseas high-speed rail project.
Experts believe with China gradually becoming a capital exporter, the CR is expected to explore overseas market in more countries and region. In addition, the further internationalization of the yuan and the establishment of the Asian Infrastructure Investment Bank will also provide strong support for China Railway’s efforts in expanding the overseas market.