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China CNR, CSR Shares Suspended Following Merger Report

China’s two biggest train manufacturers CSR Corp. and China CNR Corp. halted their shares from trading after Caixin magazine reported that the Chinese government wants to merge the two companies.

CSR suspended trading pending clarification of a media report, the company said in a statement to the Shanghai Stock Exchange today. Shares of both companies were halted in Hong Kong and in Shanghai. Zhuzhou CSR Times Electric Co., a CSR unit that makes railway equipment, also stopped trading of their stock in Hong Kong.