(Yicai Global) July 17 – The general manager of China Railway Corp. (CRC), a railway transport heavyweight in China, has recently invited Internet megalith Tencent Holdings Ltd. [HK:0700] to participate in its mixed system reform, and proposed bilateral business cooperation at multiple levels.
CRC is exploring approaches for capitalization, stock right realization and securitization of quality assets, and it welcomes Tencent to take part in its mixed system reform to further expand the spillover effect of high-speed rail, said Lu Dongfu, general manager of the state-owned enterprise in the meeting with Tencent founder Pony Ma, as The Paper reported.
Lu said the same when he met with Jack Ma, board chairman of Alibaba Group Holding Ltd. [NYSE:BABA] in May.
The twin titans should adopt a forward-looking perspective, and study how to give play to their own strengths, Lu said. They should actively explore such areas as smart railroads, cashless travel and facial recognition check-in, thereby creating diversified and customized travel services for the public.
Tencent will mobilize its outstanding team to do targeted research, bolster delivery of more intelligent and convenient railway services, promote integration of the high-speed rail network with the internet, and boost development of smart rail.