Type | State-owned enterprise |
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Industry | Civil engineering |
Founded | 1994[ citation needed ] |
Headquarters | , China |
Owner | Shanghai Municipal Government |
Parent | Shanghai SASAC |
Subsidiaries | Shanghai Construction Group Co., Ltd. (30.19%) [nb 1] |
Website | www |
Shanghai Construction Group Corporation | |||||||
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Simplified Chinese | 上海建工(集团)总公司 | ||||||
Traditional Chinese | 上海建工(集團)總公司 | ||||||
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Shanghai Construction | |||||||
Simplified Chinese | 上海建工 | ||||||
Traditional Chinese | 上海建工 | ||||||
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Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company,ranked as the 16th largest construction company in the world based on 2011 revenues. [1]
The group's listed arm Shanghai Construction Group Co.,Ltd. (SSE : 600170,Chinese :上海建工集团股份有限公司;lit.'Shanghai Construction Group','Company Limited by Shares'),was ranked at 1,096th on Forbes Global 2000 List,with a market cap of US$5.5 billion (as of May 2017). [2]
The listed company was a constituent of SSE 180 Index [3] and its sub-index SSE MidCap Index.
In the 1990s the company underwent fast-paced growth as the home city of Shanghai was finally allowed to join in the reform and growth sweeping China. [4] The city became a "builder's dream" and SCG benefited from the pent up zeal for projects with revenue climbing up 30% annually. [4] As the hometown builder,SCG is responsible for many of the landmarks of Shanghai including Shanghai Tower. [5]
SCG undertakes overseas construction projects and mining in Eritrea. It has an international focused subsidiary,the Shanghai (Group) Corporation for Foreign Economic &Technological Cooperation (SEFCO Group). [6]
The company's construction of a five star hotel in Cairo despite local political instability was cited by the New York Times in 2012 as an example of the endurance Chinese companies had in their bid to establish operations in Egypt. [7]
The SEFCO Group,a subsidiary of the company,acquired a 60% share in an Eritrean gold mine for $80 million at the end of 2011. [6]
In February 2014,Shanghai Construction Group was awarded a contract for a sewage tunnelling project in Edmonton,Canada. [8] The $11-million bid marked the first time that a Chinese firm had done tunnelling work in North America. [9]
In 2014,the company was also contracted by the Tanzanian Ministry of Defence and National Service to construct 12,000 housing units for the Tanzanian Peoples’Defence Force (TPDF) in a project financed by a $550m loan from the Exim Bank of China. [10]
Through an American subsidiary,the Group bought the Hyatt Regency Orange County hotel for $137 million in 2015,following a trend in which Chinese state owned construction firms are increasingly investing in overseas real estate. [11]
China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016. It is the world's largest steel producer.
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Jin Jiang International (Holdings) Co., Ltd. is a tourism and hospitality company headquartered in Shanghai, China, and owned by the Shanghai Municipal People's Government.
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Shanghai M&G Stationery Inc., doing business as M&G Stationery, is a stationery company headquartered in the Guangming Economic Zone, Fengxian District, Shanghai, China.
Greenland Holdings Corp., Ltd. known as Greenland Group is a Chinese real estate developer. It was founded as a state-owned enterprise. As of 31 December 2016, the top 10 shareholders of the listed company owned a combined 88% shares, with some state-owned enterprises having invested in Greenland via private equity funds.
Baoshan Iron & Steel Co., Ltd., also known as Baoshan Iron & Steel and Baosteel, is a maker of steel based in Shanghai, China, and a subsidiary of state-owned China Baowu Steel Group. It is listed on the Shanghai Stock Exchange.
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