MTR Corporation and China Railway Corporation (CRC) last week signed a Letter of Intent to explore areas of strategic cooperation within and outside the Chinese mainland.

    Under the agreement, a strategic partnership will be formed between the two companies to promote multiple areas and levels of exchanges and cooperation. The collaboration will focus on high-speed rail construction, railway operation and related integrated development as well as the training of railway professionals. The two companies would enter into separate cooperation agreements if a decision is made to proceed with specific projects.

    “This strategic partnership allows us to tap into opportunities arising from the mainland’s ‘Belt and Road’ strategy. There are substantial synergies between our two companies and we look forward to combining our strengths and capabilities to jointly investigate a number of exciting business opportunities in the global rail sector,” said Frederick Ma, chairman of MTR Corporation.

    CRC is a State-owned company under the Central Government, responsible for the unified scheduling and command of railway transportation and the operation and management of national railway services. It has the mandate to execute the national plan for railway network development. As the national railway corporation, CRC engages in international exchanges to spearhead the Go-Global strategy for China’s railway industry.

    Based in Hong Kong, MTR operates nine commuter railway lines, a Light Rail network and a high-speed Airport Express link on which more than 5.5 million passenger trips are made on a normal weekday. Another 4.9 million passenger trips are made on the rail services it operates on the Chinese mainland, Britain, Sweden and Australia. In addition, the corporation is involved in a range of railway construction projects as well as railway consultancy and contracting services around the world.

    Leveraging its railway expertise, MTR is involved in the development of transit-related residential and commercial property projects, property management, shopping mall leasing and management, advertising media and telecommunication services.(SD News)