Quotable

CRC will quicken the pace of promoting its railway standards abroad, cooperation in transshipment rail cargo and multi-modal transportation services to develop international logistics markets, especially in markets along the Belt and Road Initiative."

Sheng Guangzu, general manager of CRC, says it would deploy more resources and manpower to projects such as the China-Laos railway, the China-Thailand railway, the Hungary-Serbia railway and a light rail project in Pakistan. It began building a $5.5 billion high-speed railway line from Jakarta to Bandung on Jan 21.

"Sadly, nearly all the oil producers, including giants such as Royal Dutch Shell Plc, have cut investment in upstream exploration because of increasing deficits caused by the low crude prices."

Li Yan, an analyst at Shandong Longzhong Information Technology Co, says the oilfield services industry's profits depend on exploration. Oilfield equipment manufacturers in China fear the continuing fall in prices may make things even more difficult this year.

"The world's top 500 companies are still optimistic about the Chinese market and investment prospects, and their continuous investment and expansion in the country reflect a commitment to China's economic outlook."

Tang Wenhong, director-general of the Ministry of Commerce's department of foreign investment administration, says despite China's cooling economy, the enthusiasm of the world's top 500 firms for setting up new business in the nation shows no signs of abating.

(China Daily Africa Weekly 01/22/2016 page24)