CSR board chairman Mr Zhao Xiagang says the company signed an investment deal with the municipal government of Chengdu on October 21 and will make an initial investment of Yuan 1.5bn in a new manufacturing base for light rail and metro trains. Further funds will be spent on facilities for repair and service of railway vehicles at the new site.

The company posted a net profit of Yuan 2.04bn in the first half of the year, up 85% year-on-year, while revenues surged by 42% to Yuan 40.12bn.