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By moving into the high-end marketplace, Zhanjiang Baosteel has tapped into a profitable part of the business.

By the end of this year, China will see 850 Fuxing high-speed trains put into service while the research and development of Fuxing high-speed trains running at 350 km, 250 km, 200 km and 160 km will be strengthened, according to the CR.

CAREC's new strategy will enhance its convening power for high-level policy dialogue among ministers and senior officials on key development issues. This dialogue needs to be backed with high-quality research by the CAREC Institute, which recently became an intergovernmental organization, and from member countries and development partners to build capacity in areas including education, health, and financial and economic stability.

CATL said the technology, which includes more than 70 core patents, will increase mass energy density by 10-15 percent, improve volume utilization efficiency by 15-20 percent and reduce the amount of parts for battery packs by 40 percent.

CEO William Wei said Pintec intends to use the IPO proceeds to invest in technology and enhance its digital laboratory.