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CHENGDU -- Foreign-funded enterprises in Southwest China's Sichuan province saw their net profits reach 55.95 billion yuan (about billion) in 2018, up 13.4 percent year-on-year, according to a recent report.
CRHIC also announced earlier this month that an order for turnout junctions serving high-speed maglev trains traveling up to 600 kilometers per hour-the world's fastest such speed for the devices-was signed and built by its subsidiary, China Railway Baoji Bridge Group Co Ltd. The order recently passed inspection in Baoji, Shaanxi province, and is now ready for installation and adjustment.
CRRC is currently the world's biggest train maker by revenue, but the majority of its business is in China's domestic market. According to the latest analysis by S&P Capital IQ, a market intelligence provider, CRRC's international sales have hovered around 9 percent of total revenues, between 2015 and today.
Canton Restaurant, the first Chinese restaurant in the US, opened in San Francisco in 1849 during the Gold Rush.
CRRC's 5,777-square-meter assembly facility in Springfield is equipped with a 683-meter test track and staging and storage areas. The factory, which began operating in mid-April, has employed approximately 130 people locally.