China may have edge in race to build California's bullet train

An employee works on a high speed train model CRH380B at a final assembly line of China CNR's Tangshan Railway Vehicle's factory in Tangshan, Hebei province, February 11, 2015. REUTERS/Kim Kyung-Hoon

SAN FRANCISCO (Reuters) - Chinese state firms are poised to be strong contenders in the race to make high-speed trains that will sprint between Los Angeles and San Francisco, part of a $68 billion project to bring the service to the United States for the first time.

While "bullet train" manufacturers from Germany, Japan, South Korea, and France are expected to be among those jockeying for the estimated $1 billion train contract, China’s ability to offer low prices and hefty financing appear to make it the one to beat, say lobbyists and industry insiders.