China Communications Construction Company

Last updated

In August 2020, the United States Department of Commerce placed several CCCC subsidiaries on the Bureau of Industry and Security's Entity List for their construction work to militarize artificial islands in the South China Sea. [28] [29] [30] The same month, the United States Department of Defense released the names of additional “Communist Chinese military companies” operating directly or indirectly in the United States. CCCC was included on the list. [31] [32] In November 2020, Donald Trump issued an executive order prohibiting any American company or individuals from owning shares in companies, including CCCC, that the U.S. Department of Defense has listed as having links to the People's Liberation Army. [33] [34] In December 2020, the United States Department of Commerce added CCCC itself to the Entity List. [35]

Corporate affairs

Ownership

China Communications Construction
Native name
中国交通建设 (Chinese)
Company type State-owned enterprise
IndustryEngineering and Construction
Founded2005;20 years ago (2005)
Headquarters85 De Sheng Men Wai Street, Xicheng District, ,
Area served
Worldwide
Key people
  • Liu Qitao, Chairman
  • Song HaiLiang, President
  • Peng Bihong, Chief Financial Officer
Revenue US$ 136.7 billion (2023) [1]
US$ 1.6 billion (2023) [1]
Total assets US$ 361.4 billion (2023) [1]
OwnerGovernment of China (63.8%)
Number of employees
219,034 (2023) [1]
Subsidiaries China Road and Bridge Corporation
China Harbour Engineering Company
John Holland Group
Chinese name
Simplified Chinese 中国交通建设股份有限公司
Traditional Chinese 中國交通建設股份有限公司
Transcriptions
Standard Mandarin
Hanyu Pinyin Zhōngguó Jiāotōng Jiànshè Gǔfèn Yǒuxiàn Gōngsī

CCCC is a "blue chip" stock (part of the CSI 300 Index). As of 2016, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) holds 63.8% of the company's shares. [36] Other shareholders include multiple affiliates of (or funds managed by) Merrill Lynch, BlackRock and JPMorgan Chase. [36]

Operations

The company operates through various subsidiaries, including CRBD and CHED, John Holland Group, an Australia-based construction company focused on infrastructure, Friede & Goldman, headquartered in Houston, which engineers offshore vessels for the oil and gas industry, and Concremat Engenharia e Tecnologia S.A., an engineering and infrastructure consultancy based in Brasil. [37]

CCCC is a major contractor in the Belt and Road Initiative. [2] [3] CCCC is involved in dredging projects in disputed areas in the South China Sea, highway-building in Xinjiang, and building naval logistics installations at Gwadar Port. [38] [39] [40] [41]

CCCC's subsidiary China Harbour Engineering Company is the leading infrastructure developer in Sri Lanka and is the principal contractor for the development of Hambantota International Port. [42] :94 CCCC itself began a major project in Sri Lanka, Port City Colombo. [42]

See also

References

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