CSR wins high-speed train contract

CSR, one of China's largest rolling stock manufacturers, recently won a bid to produce high-speed railway trains in Hong Kong, which are expected to reach a top speed of 350 kilometers per hour (217 miles per hour).

CSR beat out several industry giants, such as Siemens, in the bid, and will produce the control system as well as the trains for the project.

Experts say the company was able to win the bid because it values technological innovation. According to Gong Ming, the company's chief engineer, every year CSR spends billions of yuan in researching and developing new technology.