CSR Hangzhou settles in Xiaoshan

On March 22, the internationally advanced base for industrialized maintenance and assembly of rail vehicles, jointly constructed by CSR Nanjing Puzhen Rolling Stock Co., Ltd. CSR Puzhen and Zhejiang Provincial Economic Construction Investment Co., Ltd. ZPECI under Zhejiang Provincial Railway Investment Group Co., Ltd. ZPRIG, was inaugurated at Xiaoshan Airport Economic Area in Hangzhou.

Leaders such as ZPRIG Chairman Yu Jianer and General Manager Wang Min; CSR Chairman Zhao Xiaogang; Feng Bosheng, deputy secretary-general of Zhejiang Provincial People s Government; Hong Hangyong, secretary of the CPC Xiaoshan District Committee; Deputy Secretary and District Head Sheng Yuechun were present.

ZPECI was established under the strategic agreement concluded by CSR, Zhejiang Provincial People s Government and Hangzhou Municipal People s Government. With a registered capital of RMB 300 million, the company is mainly engaged in the assembly and maintenance of urban rail vehicles, the R & D and sale of key vehicle parts as well as the export of vehicles and parts. After project construction, the company will assemble 300 metro vehicles and repair 480 vehicles a year, thus achieving an annual operating income of RMB 2.27 billion at full capacity.

As a densely-populated developed area on the east coast of China, Zhejiang has made great progress in urbanization. Developing a framework of modern road networks and constructing convenient urban rail has become a major move of Zhejiang to step up economic transformation. In the twelfth five-year period, the total operating mileage of Zhejiang s rail and urban rail will hit 3,300km and 190km respectively.

As a key area in the twelfth five-year strategic layout of CSR, the base s construction is not only of great significance to adjusting and transforming Zhejiang s regional economic structure, but also of far-reaching significance to stimulating the great industry chain, promoting local economic development and boosting the overall strength of the Yangtze River Delta.

After establishment, ZPECI will, under the guidance of the objective of building a world-class base for maintenance industrialization of rail vehicles , follow the trend of urbanization in China, seize the historical opportunity of massive construction and development of rail transit, take full advantage of the resource advantages of both investors to create a development platform, and make a great contribution to the regional economic development of Zhejiang and the Yangtze River Delta