Overseas orders reached Yuan 14.88bn ($US 2.24bn), a 126% increase compared with the corresponding period in 2015. Revenues from outside China contributed to a 2.04% year-on-year increase in net profits, which reached Yuan 4.8bn. Overall reveunes rose 1.04% to Yuan 94.21bn.

CRRC says it faced “unprecedented challenges” in the first half of this year as demand was affected by a slow recovery in the global economy and downward pressure in China. Nonetheless, CRRC says it sees good omens for growth in the market for rail equipment and pledges to “explore new markets, reduce costs, improve efficiency and support innovation” in the second half.