On November 24, during the Fourth Summit of China and Central and Eastern European Countries, the signing ceremony of the general contract for the modernized transformation and reconstruction of the Serbia section of Hungary-Serbia Railway undertaken by the joint venture of CCCC and China Railway International Co., Ltd. (CRIC) was held in Suzhou. Chinese Premier Li Keqiang, Serbian Prime MinisterAleksandar Vucic and Hungarian Prime Minister Orban Viktor attended the ceremony. Wen Gang, president assistant of CCCC and chairman of CRBC; Huang Difu, chairman of CRIC and Serbian Minister of Mining and Energy Aleksandar Antic signed the contract on behalf of respective sides.

With a full length of some 350 kilometers, Hungary-Serbia Railway is an important channel linking Belgrade, capital of Serbia and Budapest, capital of Hungary. In November 2013, Chinese Premier Li Keqiang, along with his Hungarian and Serbian counterparts, initiated a proposal on jointly constructing Hungary-Serbia Railway, a modern express railway which is up to the EU standards and meets the demands of all sides. In December 2014, during the Third Summit of China and Central and Eastern European Countries, the three countries signed a memorandum of understanding on the joint construction of Hungary-Serbia Railway. Funded and technically supported by China, the flagship cooperative project between China and Central and Eastern European countries involves the transformation as well as the full-course electrification and speedup of the existing line. After the project is completed, train running time will be reduced from six hours to two hours and a half. With a length of some 170 kilometers, the section subject to modernized transformation and reconstruction in Serbia is expected to break ground at the end of this year.

As a model cooperative project between China and Central and Eastern Europe, the construction of Hungary-Serbia Railway will boost the globalization of China's railway technologies and equipment, meet the demands of Hungry and Serbia for traffic infrastructure transformation and upgrading, promote the interconnection and internetworking of Central and Eastern Europe, and benefit the people along the railway. Besides, the project's demonstrative and driving effects will bring China's cooperation with Central and Eastern countries a new stage.

As another symbolic project undertaken by CCCC in Central and Eastern Europe after Zemun-Borca Bridge, Hungary-Serbia Railway has further consolidated CCCC's market share in this region, and laid a solid foundation for its entry into the EU market. As another major international railway project undertaken by CCCC after Mombasa-Nairobi Railway in Kenya, this project shows that CCCC has strong competitive edge in the international railway market and has become one of the leading enterprises implementing the national railway strategy of 'going out'.
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