China's new national railway operator, China Railway Corporation is now in business. The corporation, with a registered capital of just over 1 trillion yuan invested by the Ministry of Finance, is a state-owned enterprise.
It is administered by the central government, and supervised by the Ministry of Transport. Former railway minister Sheng Guangzu has been appointed the corporation's legal representative and general manager. China Railway Corporation is responsible for railway business operations, while the newly formed State Railway Administration will perform the administrative functions.
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