--FILE--Chinese workers labor at the construction site of Guiyang Urban Rail Transit Line 1 constructed by CRC (China Railway Engineering Corporation) in Guiyang city, southwest China's Guizhou province, 29 December 2016. China Railway Corp, the world's biggest railway operator by rail length, said it hopes to deepen its existing business relationship with e-commerce giant Alibaba Group Holding Ltd in pushing forward its mixed ownership reform. General Manager Lu Dongfu said CRC is promoting the asset-backed securitization and equity financing of the railways sector and welcomed Alibaba's participation, without providing further details. Lu said he hoped the two sides could deepen cooperation in areas such as high-speed railways, international logistics, electronic payments and mixed ownership reform£on the basis of consolidating the application of Alipay (the digital wallet run by Alibaba), information verification services and station navigation. Lu said he expected the partners will work together to realize the integration of the high-speed rail network with the internet, build up intelligent railway systems through an innovation cooperation model, as well as make full use of each other's resources to promote the supply-side structural reform.
