China State Construction makes it to Fortune Global 500 |27 July 2006

With a local branch in Seychelles, CSCEC is the largest conglomerate enterprise developed in the totally competitive market. With construction and real estate as its core business, CSCEC is the only construction enterprise in China that holds 3 Special Qualification Certificates. Five years ago, CSCEC, as the leading company in construction sector in China, established its development goal of "being the most competitive Chinese construction enterprise in the international market, and to be ranked among the Global top 500 by global revenue and world top 10 contractors by international revenue before 2010."

In 1982 when it was established, CSCEC’s main business income was US $446 million. In 2005, after 20 years, CSCEC’s main business income reached US $14.16 billion.

Today, a number of famous buildings are connected with the brand of CSCEC, such as the Shanghai Global Financial Center Project, the highest building in the world; the Russia Federation Plaza Project, the highest building in Europe; CCTV New Headquarters Project in Beijing, the building with the most complicated structure in the world and the Hong Kong New Airport Passenger Terminal Building, one of the top 10 building projects in the 20 century as evaluated by international authoritative organization.

In Seychelles the company's presence has been felt in the realisation of a series of projects done over the past decade, such as housing estates in various areas on Mahe, schools, the Chinese Embassy and the modern Seychelles Bureau of Standards building at Providence, just to name a few.
CSCEC has, by establishing its strategic market distribution with internationalized vision and global marketing, made considerable progress. From 2001 to 2004, its contract value and turnover reached US $63.28 billion and US $48.42 billion respectively. For the same period, total amount of its profit and tax arrived at US $2.58 billion, with profit of US $1.18 billion. Within the four years, CSCEC doubled its operation scale and its profit increased by 22 times.
In 2005, the contract value, main business income and profit of CSCEC reached US $19.31 billion, US $14.16 billion and US $400 million respectively, with total assets amounting to US $12.9 billion. Its contract value, main business income and profit for overseas operation in 2005 reached US $4.4 billion, US $3.5 billion and US $280 million respectively. CSCEC has therefore realized its aspiration "to be ranked among the Global top 500 before 2010."

Among the top 50 transnational enterprises of the developing countries assessed by the World Investment Report of the United Nations, CSCEC was the only transnational construction enterprise on the list. CSCEC has developed its competitive advantages in the international construction market in the following fields: airport, housing, hotel, road and bridge, water engineering, medical facilities, government and embassy building, cultural and sports facilities. CSCEC has created its image as the most competitive Chinese construction enterprise in international market with largest scale, excellent brand and best economic result. CSCEC now possesses two listed companies, namely China Overseas Land and Investment Ltd and China State Construction International Holdings Limited.

Mr Sun Wenjie, the president of CSCEC, expresses: "Entering Global 500 is far from enough. We shall, after being listed in the Global 500, further accelerate our business development and promote our ranking. Our next goal is to become one of the world's top 10 contractors in international operation."

Based on its plan that in 2010 CSCEC’s contract value will amount to 5% of the world total in construction market, its revenue from overseas operation will occupy 15% of that reached by all Chinese enterprises in international construction market, its overseas assets will occupy 30% of company’s total and local employees of its overseas offices will exceed 30%. By the year of 2010, CSCEC’s contract value shall reach US $31.8 billion, the main business income US $24.5 billion and the profit US $734 million, and that of its overseas operation shall reach US $6.5 billion, US $6.5 billion and US $400 million respectively.