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China Railway Corp. Plans First Train Orders of $8.2 Billion

China’s state-owned railway company will spend more than 50 billion yuan ($8.2 billion) in its first large-scale train purchases to meet rising transport demand even as the economy slows, Xinhua News Agency reported.

Newly formed China Railway Corp., which took over train operations from the dismantled Ministry of Railways in March, will buy locomotives, bullet trains and rolling stock, the official news agency said yesterday, citing the company.