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Railway Freight Market Opens to Foreigners
Foreign investments are not expected to break into the State monopoly over China's railway freight market easily, despite the government's permits. The Ministry of Foreign Trade and Economic Co-operation (MOFTEC) and the Ministry of Railways issued a notice in August, opening up China's railway freight market to foreign investors. Foreign companies are allowed to set up joint-venture railway freight service companies with Chinese partners. Some analysts saw this as a significant move in the background of China's reform of its railway industry. Permission for joint-venture railway freight service companies is a major step that the Chinese Government has undertaken to reform its railway industry, they said. With China's coming entry into the World Trade Organization and the country's commitment to gradually opening up its railway industry, analysts said railway officials are reforming and preparing State railway companies for expected challenges from foreign competitors.
(Eastday.com 12/25/2000)
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