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Article: Chinese Railways Back In Profit Ahead Of Target.
- Article from:
- International Railway Journal
- Article date:
- March 1, 2000
- Author:
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Copyright informationCOPYRIGHT 2000 Simmons-Boardman Publishing Corporation. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Chinese Railways (CR) has returned to profit after five years of Iosses. This is one year ahead of a target imposed by the Ministry of Railways. The turnround has been achieved through major changes in the way the railway is managed and operated.
THE late 1990s marked the start of major rail reform in China in line with the government's decision to switch from a centrally planned to a market economy. The need for rail reform was clear if rail was to survive and prosper in the new and rapidly changing economic environment. The swift development of air, road, and water transport led to the start of fierce competition with rail for the first time since the formation ...