China’s CRRC drops bid for Lisbon metro deal as EU finds ‘billions’ in subsidies probe

Chinese railway giant CRRC has been forced out of a Lisbon metro contract in favour of a Polish firm, after a European Commission investigation found that foreign subsidies allowed CRRC to underbid rivals. “The in-depth investigation confirmed these preliminary findings, revealing that the subsidies in question had indeed given the consortium an unfair competitive edge, to the detriment of other b