Signaling firm's successful listing opens new frontier in nation's railway technology push

The Chinese are not resting on their laurels in their quest to dominate the global rail-technology industry: They have also set their eyes on the high-margin signaling business.

China Railway Signal & Communication Corp made its listing debut on Friday in Hong Kong after raising HK$11 billion ($1.4 billion) in an initial public offering that values the company at about HK$55.1 billion. Shares rose 0.3 percent on Friday to HK$6.32.

The State-owned company said it will use about 20 percent of the proceeds from its IPO on domestic and overseas acquisitions, while spending an unspecified portion on long-term research and development.