Hot words: China State Railway Group

國(guó)家鐵路集團(tuán) (guójiā tiělù jítuán) 

China State Railway Group was officially established in Beijing on Tuesday after the State Council, China's Cabinet, approved the restructuring of China Railway Corporation in an effort to make the company more market-oriented.

China State Railway Group is a solely State-owned enterprise under the management of the central government. The group, with a board of directors, is an authorized investment entity and can establish subsidiaries, branch companies and representative offices in line with business development needs.

As a State-authorized investment entity and State-owned holding enterprise, China State Railway Group has a registered capital of 1.74 billion yuan ($251.24 million), which is the highest among all the central enterprises.

According to officials of China State Railway Group, China's railway system has launched several crucial reforms including company system reform and internal institution reform since 2017, which have provided institutional guarantees for the high quality development of China's railway system.

The establishment of China State Railway Group is conducive to ensuring the railways can play their crucial role in the national comprehensive transportation system, improve the efficiency of State-owned railway capital, and better serve social and economic development.