Chinese railway equipment maker CSR Corporation Ltd. and US General Electric Co. will form a joint venture in the U.S. with a high-speed railway technology transfer, according to a memorandum signed between China’s Ministry of Railway and GE.

As early as December, CSR announced it would set up a $100 million 50-50 joint venture with GE to bid for US high-speed railway and urban rail projects.

The venture hopes to win two high-speed railway projects in Florida and California, and with its strong position in high-speed technology, CSR will expand the venture’s reach to other U.S. projects and markets outside the U.S., analysts said.

But it is unknown what technologies will be transferred and how much GE will pay for them. If the deal is done, it will be the first time China exports its high-speed rail technologies.

China's business press carried the story above on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.