China Railway Group Ltd. has announced that, in the current year up to the end of June, the cumulative value of newly signed contracts for 2026 reached RMB 1.00568 trillion ($0.15 trillion), down 9.3 percent year on year.
In the first three months, the value of newly signed contracts had stood at only RMB 338.51 billion ($50 billion), plummeting 39.6 percent year on year. However, in the April to June period, the quarterly figure surged to RMB 667.17 billion ($98.3 billion), marking a year-on-year increase of 21.6 percent. The company turned around the first quarter slump by actively pursuing new business, while its operating performance is trending in a positive direction for the full year.
In the first six months, engineering construction saw RMB 724.32 billion ($106.7 billion) in new contracts, declining by 2.0 percent year on year.
Fortunately, the company's new contracts in equipment manufacturing and emerging business indicated year-on-year rises of 16.7 percent and 5.7 percent respectively, signaling that the company is making real headway in shifting toward an 'industrial manufacturer' model and is building up new quality productive forces.
