What does the revamp of the China Railway Ministry mean for Midas - one of My Stock Picks ? Monday, 11 March, 2013 1:44 PM
Posted by Kevin Scully
China's new Government under President Xi Jinping has announced a major overhaul of China's railway bureaucracy with the closure of the once powerful but corrupt Railway Ministry. Over the weekend, China announced that it was scrapping its Raiway Ministry and folding its functions into the Transport Ministry. It would also be creating the Railways Corporation of China to run China's railway system. Nobody knows the impact of this change but we can speculate.
Looking carefully at the split - it would appear that the Chinese Government would continue to make macro decisions about China's public sector transport system. I would imagine that the Transport Ministry would endorse the Government's railway roll out plan which has been articulated and set aside monies ......
