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Chinanews, Beijing, June 2 - Seven enterprises from the Chinese mainland, Hong Kong, Germany and Israel have jointly1 founded China Railway United International Container Co. Ltd, heralding2 foreign capital's entry into China's railway industry.
The company was founded on May 31 in Beijing, with foreign capital taking up 46% of its investment. During the 11th Five-Year Plan Period (2006-2010), the investment of the company will increase to 30 billion yuan. China promised to open its railway industry in 2001, but not until this time, did China fulfill3 its promise. "China has fully4 opened its railway freight industry, and the passenger transport field will be opened, soon, " said Hu Yadong, Vice5 Minister of Railways. It can be estimated that there will be more and more joint-venture enterprises in China's railway industry in the future.
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