China is ready to sell its high-speed bullet train technology to other countries, authorities said.

?China is willing to export the high-speed rails technology to any country that wants to buy,? Wang Yongping, spokesperson of the ministry of railways, told the Global Times. ?We own the most advanced technology of high-speed rails.?

The statement came after British daily The Sunday Times reported that Chinese-made bullet trains would hit the rails in Britain by 2025.

The bullet train, unveiled in December last year, can run at the speed of up to 486 km per hour.

The report said China?s ambassador to Britain, Liu Xiaoming, met with British ministers to discuss a deal and convinced them that China could supply the advanced trains at a much lower cost.

Britain needs 120 bullet trains for the 30 billion pounds ($47.6 billion) high-speed rail project that will connect London to other major cities, such as Manchester, in 2025, the report said.

The cost for 120 high-speed trains from Western producers, such as Siemens, Bombardier and Alstom is 4 billion pounds ($6.3 billion), but Chinese trains cost only half that, the report said.

Wang, however, declined to comment on negotiations with Britain.

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