The Financial Post reports in its Thursday edition Bombardier's Chinese joint venture has won a contract to supply 15 ultrahigh-speed trains to the country's national railway. The Post's Kristine Owram writes the deal to supply Bombardier's newest generation of high-speed electric trains to China Railway Corp. is worth about $381-million (U.S.). Bombardier owns 50 per cent of the Bombardier Sifang Transportation (BST) joint venture. The company started delivering the first of its next-generation trains at the beginning of this year, and said the early follow-on order "shows the confidence of China Railways in BST's leading high-tech product," said Jianwei Zhang, president of Bombardier China. "China now has the world's longest operational track mileage and largest number of high-speed trains." The trains have a maximum operating speed of 380 kilometres per hour. They will be manufactured at BST's factory in Qingdao. Bombardier is planning to spin off a minority share of its train-making business through an initial public offering tentatively set for the fourth quarter of this year. Bombardier closed Wednesday at $1.16, down one cent on the Toronto Stock Exchange.