The China Railway Corporation (CRC), a spinoff of the now defunct Ministry of Railways, cut its losses to 1.73 billion yuan ($280 million) in the first three quarters of this year, down from 8.54 billion yuan a year ago, Economic Information reported Monday citing the CRC's financial report.
The CRC achieved sales revenues of 752.3 billion yuan including 195.3 billion yuan for cargo transportation for the first 9 months of this year, up 8 percent and 14 percent year-on-year respectively.
CRC issues bonds to build railways
2013-08-14CRC prohibited from bidding on Brazil’s high-speed rail project
2013-07-25CRC unveils freight reform plan
2013-06-17CRC reports $1.12 billion loss in Q1
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