(Yicai Global) Oct. 5 -- China Railway Rolling Stock Corporation (CRRC) Limited [SHA:601766], the world's largest railway equipment producer, is planning to build two industry bases in the East and West Coasts of the US, said Yu Weiping, vice president of the company.

Yu introduced CRRC's plans at a China-US investment conference held in Washington, DC, on Oct. 2, state-owned Xinhua News Agency reported. Several experts from both countries discussed ways of possible cooperation on infrastructure construction and the Belt and Road Initiative.

The CRRC's planned bases in the US will mainly make railway equipment, creating local job opportunities and benefiting the industry chain. The company will also develop new products for different countries and regions with partners from the US and will share China's rich experience in the railway industry.

The development of the Belt and Road Initiative over the past few years was beyond many Americans' expectations, said a senior advisor to the United States Agency for International Development (USAID). Many US enterprises from such sectors as logistics, energy and services are eager to participate in the Initiative, the advisor added.

China has rich experience in infrastructure construction, while the US has advantages in human resources and management, the advisor pointed out, adding both sides can cooperate on projects in Central and West Asia and complement each other's strengths.