New train giant makes market splash

CRRC chairman says merger process will be model for SOE reform

China Railway Rolling Stock Corp Ltd started trading on the Shanghai and Hong Kong bourses on Monday, becoming the world's biggest rail conglomerate in terms of market value and sales.

CRRC, a combination of previous rail giants CNR Corp and CSR Corp, saw its shares immediately surge 10.02 percent to 32.4 yuan ($5.22) on the Shanghai Stock Exchange, giving it a market capitalization of 742.5 billion yuan.