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China Railway Group to tap offshore businessPublished: 10 Nov 2008 02:25:30 PST Nov. 10, 2008 (China Knowledge) — China Railway Group Ltd<601390><390>, the country’s leading railway and highway builder, acquired GuangDong Zhonghai Engineering Construction Bureau on Nov. 8, a substantial move of China Railway to extend its business to offshore industry, sources reported. The move was in line with the State-owned Assets Supervision and Administration Commission’s (SASAC) effort to encourage the state-owned companies to give prominence to their main business and optimize resource distribution, said Shi Dahua, chairman of China Railway. Established in 1952, GuangDong Zhonghai Engineering Construction Bureau is now a subsidiary of China Resources (Holdings) Co, specializing in underwater blasting, waterway and navigational engineering, etc. Upon the acquisition, it will be renamed China Railway Harbor Engineering Group Co Ltd. Copyright © 2008 http://www.chinaknowledge.com Send feedback or comments to: news@chinaknowledge.com For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related Topics China News 电磁流量计 ペニーオークション 管理咨询 ツーショットダイヤル クレジット 現金化 弹簧 china elevator クレジットカード現金化 超声波