Quotable

CRC will work with both private and state-owned companies to form joint ventures to support mixed ownership reform, and will accelerate the pace of asset-backed securitization and equity financing in the railway sector."

Lu Dongfu, general manager of China Railway Corp, the world's biggest railway operator by rail length

"The current regulations increased the operating costs of P2P lending platforms. A large number of them will possibly vanish in the next two or three years. The platforms that demonstrated relatively high compliance with standards will be for sale, and those showing low compliance will be forced to close."

Deng Jianpeng, vice-president of the Chinese Internet Financial Innovation Research Institute

"We should not simply be a processor for overseas guitar companies. Development of our own brands has been a priority. The rising labor and production costs in the Pearl River Delta have made us less profitable. We need to build our own brands for sustainable development."

Danny Tsai, general manager of World Sound Music (Huizhou) Co, a guitar manufacturer

(China Daily European Weekly 01/06/2017 page24)