Trainmakers' merger rolls ahead

The merger of the nation's two largest producers of rolling stock, CSR Corp and CNR Corp, is edging closer to completion with the announcements of a review by the China Securities Regulatory Commission and details on the management of the new company.

In a statement on Monday, the CSRC said that the merger deal is set for review on Friday.

Earlier on Monday after their shares were suspended from trading in Shanghai and Hong Kong, a joint statement by the two companies revealed that the chairmen and presidents of CSR and CNR will be on the board of directors of the merged company, China Railway Rolling Stock Corp. A shortlist of candidates for the new company's board of directors and supervisors was included in the announcement.