CRRC Qingdao Sifang Co Ltd in Shandong province will lead a project to research and develop a magnetic levitation or maglev train that can reach 600 km per hour－the fastest train of its kind currently in service.

The goal for the project is to establish advanced technology and standard systems for new-generation high-speed maglev transportation.

In addition, a maglev rail line up to 5 kilometers will be built to test the train.

The world's first maglev line was launched in Shanghai in 2002, connecting Shanghai Pudong International Airport and the outskirts of central Pudong. With speeds of up to 430 kph, its 30-kilometer route takes less than eight minutes to travel.

The first Chinese middle-to-low speed maglev rail line began operating in May in Changsha, capital of central China's Hunan Province. The maglev shuttles between Changsha's south railway station and the Changsha Huanghua International Airport. It takes 19 minutes and 30 seconds to complete the 18.55-km journey.