China Railway A-shares hit Shanghai market today

A-shares of China Railway Construction Corp (CRC) will begin trading in Shanghai today, following its US$3.1 billion IPO last month, state media reported. CRC, the construction company behind the Qinghai-Tibet railroad, will also list in Hong Kong on Thursday. CRC owns a majority of its own shares, with 74.68%. Other large shareholders include Haitong Securities, China Life Insurance, Taikang Life Insurance, Pacific Life Insurance and Pacific Insurance. China’s Minister of Railways Liu Zhijun has urged domestic and international private investors to invest in China’s railways, as the government looks for capital to expand China’s railway network from the current 70,000 km to 120,000 km by 2012.