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China Railway Rolling Stock Corp, the Chinese manufacturer of locomotives and rolling stock, has split its struggling freight train manufacturing business into two units to reduce competition and eliminate excess capacity, as part of a corporate restructuring.

China achieved solid year-on-year GDP growth of 6.9 percent in the first three quarters, putting it in a position to comfortably achieve its whole-year target of around 6.5 percent. Analysts said the solid growth trend is expected to be carried into the fourth quarter.

China also aims to promote ICVs by lifting the share of their sales in total automobile sales to about 30 percent by 2025.

China and Myanmar are expected to strengthen economic and trade relations, with China seen investing more in Myanmar through the Belt and Road Initiative.

China Railway Rolling Stock Corp, the country's manufacturer of locomotives and rolling stock, will continue to bank on localized manufacturing, procurement, employment, services and management to drive growth in markets related to the Belt and Road Initiative, a senior executive said on Friday.