China Railway Construction Corporation

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China Railway Construction Corporation Limited
Native name
中国铁建股份有限公司 (Chinese)
Company typeState-owned enterprise
Industry Construction
Founded1948
1990 (holding company) [1]
2007 (listed company) [1]
Headquarters
Beijing
,
China
Area served
Worldwide
Key people
 Chairman: Fengchao Meng
Products Railways
Services Railway infrastructure
RevenueIncrease2.svg CN¥680.98 billion (2017) [2]
Increase2.svgCN¥20.91 billion (2017) [2]
Increase2.svgCN¥16.92 billion (2017) [2]
Total assets Increase2.svgCN¥821.89 billion (2017) [2]
Total equity Increase2.svgCN¥178.65 billion (2017) [2]
OwnerCRCCG
Number of employees
Increase2.svg261,333 (2017) [2]
Parent CRCCG
Subsidiaries CCECC (100%)
Chinese name
Simplified Chinese 中国铁建股份有限公司
Traditional Chinese 中國鐵建股份有限公司
Website crcc.cn

China Railway Construction Corporation Limited (abbreviated CRCC) is a listed construction enterprise based in Beijing, China, that was the second largest construction and engineering company in the world by revenue in 2014. [3]

Contents

The limited company was incorporated in 2007 in order to float the assets of China Railway Construction Corporation [Group] (CRCCG, simplified Chinese :中国铁道建筑总公司; traditional Chinese :中國鐵道建築總公司, or the holding company) in Shanghai and Hong Kong stock exchange. CRCCG retained some assets which was deemed not suitable to float in the stock exchange. [4]

Following the 2022 Russian invasion of Ukraine the company continued doing business in Russia, including discussing building a tunnel to Crimea. For this reason Ukraine listed CRCC as an International Sponsors of War.

Corporate structure

CRCCG is under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council. Since February 2008, A shares and H shares of CRCC are listing on the Shanghai and Hong Kong stock exchanges.

The financial report of the parent company (holding company) is not disclosed. As both parent and subsidiary share almost the same English name, one without the word "Limited" (they have different names in Chinese), the business activities of the holding company was often incorrectly mixed up with the publicly floated limited liability subsidiary by the media.

Subsidiaries of CRCC

History

Founding

Formerly the railway arm of the People's Liberation Army (found 1948 and became part of the Ministry of Railways from 1982). Along with China Railway Engineering Corporation, both railway construction super conglomerates were under the Ministry until 2000. The company maintains links to the People's Liberation Army. [5]

In 2003, China Civil Engineering Construction Corporation, another former entity of the Ministry of Railways, was assigned to China Railway Construction Corporation as its subsidiary.[ citation needed ]

IPO

In preparation for listing, China Railway Construction Corporation Limited was incorporated in 2007 as a joint-stock company with limited liabilities which received most of the assets of the parent company. [4] 5 Build-operate-transfer projects were not included, namely Chongqing Tiefa Suiyu Highway, Nanjing Yangtze River Tunnel, Beijing Tongda Jingcheng Highway, Xianyang Zhongtie Road and Bridge and Guangdong Chaojie Highway. Later on in 2015 CRCC bought Chongqing Tiefa Suiyu Highway from the parent company, while 20% was retained by Chongqing Expressway Co., Ltd. [6]

The company premiered on the Shanghai and Hong Kong in February 2008, raising US$5.7 billion, making the second largest IPO of that year. The performance was poorer than expected because of poor investment atmosphere from United States subprime mortgage crisis and China's economic macro-control.[ citation needed ]

U.S. sanctions

In November 2020, Donald Trump issued an executive order prohibiting any American company or individual from owning shares in companies that the United States Department of Defense has listed as having links to the People's Liberation Army, which included China Railway Construction Corporation. [7] [8] [9]

Projects

Domestic

CRCC has built much of the transportation infrastructure in China including high speed rail, subways, and expressways.

Asia

Middle East and North Africa

Europe

Africa

Other business areas

The main business activity of the company is in construction and engineering but it is also engaged in real estate development and copper mining.[ citation needed ]

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References

  1. 1 2 中国铁建股份有限公司概况 [Brief summary of China Railway Construction Corporation Limited] (in Chinese). Archived from the original on 10 March 2015. Retrieved 6 June 2015.
  2. 1 2 3 4 5 6 "Archived copy" (PDF). Archived (PDF) from the original on 2018-10-22. Retrieved 2019-02-15.{{cite web}}: CS1 maint: archived copy as title (link)
  3. ↑ "ENR Top 250 Global Contractors". Engineering News Record. 2014. Archived from the original on 2015-07-28. Retrieved 2015-07-30.
  4. 1 2 與中鐵建總公司的關係 Archived 2015-06-07 at the Wayback Machine RELATIONSHIP WITH CRCCG Archived 2016-03-05 at the Wayback Machine Filing in Hong Kong Stock Exchange (in English and Chinese)
  5. ↑ Allen-Ebrahimian, Bethany (2020-06-24). "Defense Department produces list of Chinese military-linked companies, 20 years after mandate". Axios. Retrieved 2020-06-24.
  6. ↑ "Connected Transaction Acquisition of Equity Interest in Chongqing Tiefa Suiyu" (PDF). Archived (PDF) from the original on 2016-03-05. Retrieved 2015-06-07.
  7. ↑ Chen, Shawna (November 12, 2020). "Trump bans Americans from investing in 31 companies with links to Chinese military". Axios . Retrieved November 12, 2020.
  8. ↑ Pamuk, Humeyra; Alper, Alexandra; Ali, Idrees (2020-11-12). "Trump bans U.S. investments in firms linked to Chinese military". Reuters . Retrieved 2020-11-12.
  9. ↑ Swanson, Ana (2020-11-12). "Trump Bars Investment in Chinese Firms With Military Ties". The New York Times . ISSN   0362-4331 . Retrieved 2020-11-13.
  10. ↑ "Now Chinese firm on the scene". Daily Star. August 26, 2014. Archived from the original on July 3, 2015. Retrieved July 27, 2015.
  11. ↑ Amarthalingam, Sangeetha (May 17, 2019). "Royal Railway on track to modernisation". Capital Cambodia. Retrieved April 7, 2022.
  12. ↑ Vannak, Chea (May 10, 2019). "Chinese team ready to begin study on railroad revamp". Khmer Times. Retrieved June 30, 2022.
  13. ↑ "CRCC reports booming overseas contracts". China Daily. October 20, 2007. Archived from the original on March 5, 2016. Retrieved July 27, 2015.
  14. ↑ "Chinese company wins Egyptian track upgrading contract". International Railway Journal. April 15, 2015. Archived from the original on September 26, 2015. Retrieved July 30, 2015.
  15. ↑ "World rail market March 2009". Railway Gazette International. 2009-03-08. Archived from the original on 16 June 2011. Retrieved 3 March 2010.
  16. ↑ Connected Transaction: Signing of the Agreement on the Arrangement of Matters in Relation to the Mecca Light Rail Project and Resumption of Trading Archived 2015-06-16 at the Wayback Machine CRCC c/o hkexnews.hk
  17. ↑ "Turkey's new high-speed rail: victory for Erdogan – and China". Global Construction Review. July 29, 2014. Archived from the original on September 10, 2015. Retrieved August 2, 2015.
  18. ↑ "Китайским инвесторам предложили построить линию метро до Коммунарки" (in Russian). Moscow Complex for Construction and Urban Development. 2014-04-20.[ permanent dead link ]
  19. ↑ "Chinese firms to build Moscow's new subway". Global Construction Review. 2014-05-21.
  20. ↑ "Китайцы идут валютным курсом". Moscow Complex for Construction and Urban Development. 2016-05-10.
  21. ↑ "Около 500 китайских инженеров приедут в Москву для строительства метро" (in Russian). Moscow Complex for Construction and Urban Development. 2017-02-14.[ permanent dead link ]
  22. ↑ "Китайская корпорация CRCCI подписала контракт на строительство ключевой национальной автомагистрали в России". Жэньминь Жибао.
  23. ↑ "CRCC-built Benguela Railway in Angola inaugurated". Want China Times. February 18, 2015.[ permanent dead link ]
  24. ↑ "Mali signs $1.5 bln rail deal with China Railway Construction". Reuters. December 26, 2015. Archived from the original on December 16, 2016. Retrieved June 30, 2017.
  25. ↑ "Senegal - Mali railway modernisation agreements signed". Railway Gazette. January 5, 2016. Archived from the original on January 7, 2016. Retrieved January 6, 2016.
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