CRC set to extend work with Alibaba
2017-05-18 09:01:00

An attendant looks out a train station in Guanling, Guizhou province. Guanlin is one of the stations on the Shanghai-Kunming high-speed railway. [Photo by Zou Hong/China Daily]

Railway operator says it welcomes further input from e-commerce giant

China Railway Corp, the world's biggest railway operator by rail length, said it hopes to deepen its existing business relationship with e-commerce giant Alibaba Group Holding Ltd in pushing forward its mixed ownership reform.

General Manager Lu Dongfu said CRC is promoting the asset-backed securitization and equity financing of the railways sector and welcomed Alibaba's participation, without providing further details.

Lu said he hoped the two sides could deepen cooperation in areas such as high-speed railways, international logistics, electronic payments and mixed ownership reform-on the basis of consolidating the application of Alipay (the digital wallet run by Alibaba), information verification services and station navigation.

Lu said he expected the partners will work together to realize the integration of the high-speed rail network with the internet, build up intelligent railway systems through an innovation cooperation model, as well as make full use of each other's resources to promote the supply-side structural reform.

Jack Ma, founder and chairman of Alibaba, said his group is willing to further deepen relations with the national railway operator. He said Alibaba will combine its technical strengths in big data, cloud computing and e-commerce services with the capital and resources of CRC, to build a new business and operations model.

Source:chinadaily.com.cn Editor:Dylan