Chinese hi-tech firms, equipment makers gain traction overseas

In 2014, the export contract value of China's top two bullet train makers, China South Rail Corporation (CSR) and China North Rail (CNR), exceeded three billion U.S. dollars, a 60 percent increase from 2013. They have recently announced that they would merge into a new company in a bid to accelerate overseas expansion.

The railway sector is just a snapshot of China's fast-evolving equipment manufacturing industry, as an increasing number of Chinese equipment makers and high-tech firms are "going global," offering cost-effective and quality products to regions and countries around the world.

In October 2014, Romania and China General Nuclear (CGN) signed a joint letter of intent to build two new reactors in Romania's Cernavoda nuclear plant for which the Chinese company has been designated as an investor.

Chinese nuclear power companies have also managed to gain ground in South Africa, Argentine and Turkey, as the country has formally launched its first indigenous nuclear power reactor design.

In August 2014, China National Nuclear Corporation announced that China's own-brand third-generation reactor "Hualong One" has passed through experts review to become the country's independent nuclear power technology that could be exported.