Name Right for China's First Maglev Train Auctioned

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Last updated at: (Beijing Time) Thursday, March 06, 2003

Name Right for China's First Maglev Train Auctioned

A real estate company won the right to name China's first maglev train, for a price of 20.9 million yuan (2.53 million US dollars).

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A real estate company won the right to name China's first maglev train, for a price of 20.9 million yuan (2.53 million US dollars).

The winner, Shanghai Sinhoo Real Estate Co. Ltd, is a subsidiary of Zhejiang Sinhoo Co. Ltd, a listed company based in Hangzhou, capital of east China's Zhejiang province.

Over 55 enterprises expressed interest in the auction held in Longyang Station, Shanghai, the east municipality of China which has built the nation's first maglev railway. Officials with the Shanghai Maglev Transportation Development Co Ltd were greatly pleased with the deal.

As ruled, the winner will enjoy the right to name the train fortwo years and will be entitled to advise in the train over the same period. A specific number of seats on every train will be reserved for the winner.

The winner is required to pay the bid price within five days, after which their name "Xinhu Mingzhu Hao", meaning Sinhoo Pearl, will be inscribed on the train.

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Naming Right for First Maglev Train to be Auctioned

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