In response to the substantially reduced domestic wagon market demands and severe overcapacity situation, CRRC has recently launched a restructuring program. CRRC will set up two sub-groups, CRRC Qiqihar Rolling Stock Co.,Ltd and CRRC Yangtze Co., Ltd., as the main body to start the reorganization of the wagon companies. It is reported that CRRC has set up a special agency to study the wagon reform program, which will optimize the allocation of resources through business restructuring and capacity compression.
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