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Xinhua Silk Road
Company

CSCEC’s overseas revenues top USD10 bln in 2016

October 19, 2017


Abstract : Over the years, China State Construction Engineering Corporation (CSCEC) has accelerated market development through innovation under the Belt and Road Initiative and reaped significant social and economic benefits.

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BEIJING, Oct. 19 (Xinhua) -- Over the years, China State Construction Engineering Corporation (CSCEC) has accelerated market development through innovation under the Belt and Road Initiative and reaped significant social and economic benefits.

In 2016, CSCEC signed new contracts worth more than 2 trillion yuan (about 303 billion U.S. dollars), ranking fourth in business revenues and fifth in total profit among 102 central enterprises. In addition, it was ranked 24th in the 2017 Fortune Global 500 list, and was given A ratings by Standard & Poor’s, Moody’s and Fitch.

-- Targeting three key R&D directions

In technological innovation, CSCEC has won 13 national science and technology awards, five national survey & design awards and 9,660 patents (1,098 patents for invention). In addition, the “Research on CSCEC’s 1,000-meter Skyscraper Construction Technologies” has realized independent technological achievements.

The main venue of the Silk Road (Dunhuang) International Cultural Expo on the gobi desert of Dunhuang was built with BIM (building information modeling) technology. CSCEC made the most of its digital platform to complete the project generally needing four years in only eight months and created the miracle of Dunhuang.

CSCEC has targeted three key R&D directions: green construction, smart construction and industrialization, achieving significant results and leading industrial development.

At the same time, as Internet + facilitates optimization, transformation and upgrading of CSCEC’s industrial structure at a deeper level, CSCEC has maintained its competitiveness in industries including big data cloud platform, water environment protection and e-commerce.

In recent years, CSCEC has made remarkable achievements in the fields of green construction, affordable housing, super high-rise buildings, underground utility tunnels, urban mass transits, highways and municipal roads, bridges and tunnels, water environment treatment and others. Meanwhile, it has assisted in implementing the UN 2030 Agenda for Sustainable Development to build global “sustainable towns”.

-- Achieving overseas revenues of over USD10 bln

As one of China’s earliest enterprises to venture abroad, CSCEC has been ahead of other Chinese enterprises in foreign project contracting. Over the past 30 years, CSCEC has conducted in-depth operations in Algeria, Pakistan, Egypt, Vietnam, Ethiopia and other developing countries, undertaking several iconic projects. At the same time, it has also forged into the US, Singapore and other developed markets, securing its position among local leading international contractors. To date, it has undertaken and constructed more than 6,000 projects in 130 foreign countries and regions, signed overseas contracts worth more than 130 billion U.S. dollars, and achieved business revenues of 86 billion dollars.

After the advent of the Belt and Road Initiative, CSCEC has been playing a positive role in making contributions on behalf of China, sharing China’s experience, displaying Chinese product quality and providing Chinese technologies. Moreover, in carrying out overseas business development, CSCEC has adhered to localized development, market-based competition, capitalized operation and systematic control. In this way, it has undertaken a lot of major iconic projects abroad and gained accolades from the governments and people in the countries where its projects are located.

Since the proposition of the Belt and Road Initiative in 2013, CSCEC has signed overseas contracts worth 60.1 billion dollars and completed a business turnover of 33.7 billion dollars, accounting for 44.4 percent and 39.2 percent, respectively, of its overall overseas business indexes over the 35 years of its establishment. In 2016, driven by the Belt and Road Initiative, it achieved overseas business revenues of more than 10 billion dollars for the first time, reaching a new level in overseas operations.

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Keyword: construction CSCEC

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