Chinese trainmakers CSR and CNR announced the completion of their merger on Monday through a company statement. The newly formed company CRRC Corporation is the world's biggest rail conglomerate in terms of sales. The merger was realised through a share swap merger. It has appointed the former chairman of CNR, Cui Dianguo, as the newly formed company's chairman, and CNR's former president Xi Guohua as the new firm's CEO. The statement did not say when shares of the new conglomerate will resume trading