Japanese rail firms band together as Chinese tech exports gain strength  

(ECNS) -- A high-speed Rail association in Japan met on Wednesday to promote exports of the Shinkansen system amid increasing competition from global rivals, chinanews.com said, citing a Japanese report.

The newly-organized International High-Speed Rail Association includes more than 20 rail companies and industry groups, including four Japan Railway Group companies that operate Shinkansen lines and major railway builders such as Mitsubishi Heavy Industries Ltd. and Hitachi Corp.

The chairman of Central Japan Railway Co. said in the meeting held in Tokyo that the Shinkansen system represents Japan's high-speed rail technology.

The association has sought cooperation on publicity campaigns for Shinkansen technology, as international demand for high-speed railways soars due to the pressure of increasing populations and economic development, especially among emerging economies.

An executive staff member said the construction cost of the Shinkansen system is higher at the initial term, compared to European and Chinese firms.

Japan should respond flexibly to potential customer demand after market research, Japanese rail experts said.

China CNR Corp, the world's largest train builder in terms of sales, was awarded a $566.6 million contract to construct 284 new subway cars for Boston's metro system, according to reports on Thursday.