EU probes Chinese rail giant CRRC's subsidiary over unfair competition

The European Union has launched an investigation into CRRC Qingdao Sifang Locomotive , a subsidiary of Chinese rail giant CRRC , for suspected unfair competition through the use of state subsidies . This investigation is the first to be conducted under the EU's new foreign subsidy rules. It is believed that CRRC Qingdao Sifang Locomotive relied on subsidies to submit a favorable bid for a tender in Bulgaria .

The tender involves the supply and maintenance of 20 electric trains over a 15-year period, with a total value of approximately €610 million

EU Investigation CRRC Qingdao Sifang Locomotive Chinese Rail Giant Unfair Competition State Subsidies Tender Bulgaria Electric Trains

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