China Railway Construction Corporation
Encyclopedia
The China Railway Construction Corporation ( or , ), or simply CRCC, is the second largest state-owned construction
enterprise in the People's Republic of China
, just after China Railway Engineering Corporation
. Its headquarter is in Beijing
.
Formerly the railway arm of the People's Liberation Army
, CRCC is engaged in the businesses of construction contracting, surveying
, design
and consultation
, industrial manufacturing
, exploitation of real estate
, capital operation and logistics
. It is currently China's largest construction contractor
and the world's sixth construction contractor.
CRCC is under the supervision by the State Council of the People's Republic of China
.
and Hong Kong
, with IPO price RMB
$9.8 and HK
$10.7 respectively.
The A shares closed at RMB$11.64 at the first trading day, 10 March 2008, 28% rise compared with its IPO price of RMB$9.08. The H shares closed at HK$12, 12% rise compared with its IPO price of HK$10.7.
The performance was poorer than expected because of poor investment atmosphere from United States
subprime mortgage crisis
and China's economic macro-control
. However, it was the second-largest IPO worldwide, with funds raised in the amount of USD 5,709m, second only to the IPO of Visa (USD 19,650m).
The first time was when Richard Li
's Pacific Century CyberWorks injected its assets into Tricom Holdings, which had stock code of "1186". But "1186" was not used after Pacific Century CyberWorks merged
with Hong Kong Telecom
in 2000 to become PCCW
.
The second time was when Value Partners Group used it for Value Partners China Greenchip Fund. But it was delisted in 2007 and became an open-ended mutual fund
.
- CRCC wins $2.6b bid for west-to-east coastal railway 352 km from Khoms to Sirte
and a south-to-north railway 800 km long for iron ore transport from the southern city Sabha to Misrata.
- CRCC wins 6.7 billion Saudi riyal
contract to build the first 18 km of the metro in Mecca
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
enterprise in the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
, just after China Railway Engineering Corporation
China Railway Engineering Corporation
The China Railway Engineering Corporation , or simply CREC, is a large-scale state-owned enterprise in the People's Republic of China....
. Its headquarter is in Beijing
Beijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
.
Formerly the railway arm of the People's Liberation Army
People's Liberation Army
The People's Liberation Army is the unified military organization of all land, sea, strategic missile and air forces of the People's Republic of China. The PLA was established on August 1, 1927 — celebrated annually as "PLA Day" — as the military arm of the Communist Party of China...
, CRCC is engaged in the businesses of construction contracting, surveying
Surveying
See Also: Public Land Survey SystemSurveying or land surveying is the technique, profession, and science of accurately determining the terrestrial or three-dimensional position of points and the distances and angles between them...
, design
Design
Design as a noun informally refers to a plan or convention for the construction of an object or a system while “to design” refers to making this plan...
and consultation
Consultation
The Consultation served as the provisional government of Mexican Texas from November 1835 through March 1836 during the Texas Revolution. Tensions rose in Texas during early 1835 as throughout Mexico federalists began to oppose the increasingly centralist policies of the government. In the...
, industrial manufacturing
Manufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
, exploitation of real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
, capital operation and logistics
Logistics
Logistics is the management of the flow of goods between the point of origin and the point of destination in order to meet the requirements of customers or corporations. Logistics involves the integration of information, transportation, inventory, warehousing, material handling, and packaging, and...
. It is currently China's largest construction contractor
General contractor
A general contractor is responsible for the day-to-day oversight of a construction site, management of vendors and trades, and communication of information to involved parties throughout the course of a building project.-Description:...
and the world's sixth construction contractor.
CRCC is under the supervision by the State Council of the People's Republic of China
State Council of the People's Republic of China
The State Council of the People's Republic of China , which is largely synonymous with the Central People's Government after 1954, is the chief administrative authority of the People's Republic of China. It is chaired by the Premier and includes the heads of each governmental department and agency...
.
IPO
In February 2008, A shares and H shares of CRCC were listed on the ShanghaiShanghai Stock Exchange
The Shanghai Stock Exchange , abbreviated as 上证所/上證所 or 上交所, is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other is the Shenzhen Stock Exchange...
and Hong Kong
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
, with IPO price RMB
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
$9.8 and HK
Hong Kong dollar
The Hong Kong dollar is the currency of the jurisdiction. It is the eighth most traded currency in the world. In English, it is normally abbreviated with the dollar sign $, or alternatively HK$ to distinguish it from other dollar-denominated currencies...
$10.7 respectively.
The A shares closed at RMB$11.64 at the first trading day, 10 March 2008, 28% rise compared with its IPO price of RMB$9.08. The H shares closed at HK$12, 12% rise compared with its IPO price of HK$10.7.
The performance was poorer than expected because of poor investment atmosphere from United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
subprime mortgage crisis
Subprime mortgage crisis
The U.S. subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages....
and China's economic macro-control
Macro-control
Macroeconomic regulation and control often abbrevicated Macro-control refers to the use of direct government intervention by the central government of the People's Republic of China to cool down the overheated economy. The policy was first introduced in 1993 by Zhu Rongji, Premier of the People's...
. However, it was the second-largest IPO worldwide, with funds raised in the amount of USD 5,709m, second only to the IPO of Visa (USD 19,650m).
H Shares Stock Code - 1186
"1186", the stock code of CRCC H shares, was used by two famous companies before.The first time was when Richard Li
Richard Li
Richard Li Tzar Kai is the younger son of successful entrepreneur Li Ka-Shing and brother of Victor Li.Li was 26th in the Forbes List of Hong Kong’s 40 Richest people for 2010...
's Pacific Century CyberWorks injected its assets into Tricom Holdings, which had stock code of "1186". But "1186" was not used after Pacific Century CyberWorks merged
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
with Hong Kong Telecom
Hong Kong Telecom
Hong Kong Telecommunications Limited, Hong Kong Telecom , or Cable & Wireless HKT Limited later, was the largest telecommunications service provider in Hong Kong. It was parented by Cable & Wireless. It had a dominant position in fixed-line, IDD and broadband services in Hong Kong...
in 2000 to become PCCW
PCCW
PCCW Limited is the holding company of HKT Group Holdings Limited, Hong Kong's premier telecommunications provider in the Information and Communications Technologies industry. PCCW also holds a majority interest in Pacific Century Premium Developments Limited...
.
The second time was when Value Partners Group used it for Value Partners China Greenchip Fund. But it was delisted in 2007 and became an open-ended mutual fund
Mutual fund
A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.- Overview :...
.
2008
LibyaTransport in Libya
-Railways:Libya has had no railway in operation since 1965, all previous narrow gauge lines having been dismantled. Plans for a new network have been under development for some time , and in 2008 and 2009 various contracts were placed and construction work started on a standard gauge railway...
- CRCC wins $2.6b bid for west-to-east coastal railway 352 km from Khoms to Sirte
Sirte
Sirte is a city in LibyaSirte may also refer to:* Sirte Declaration, a 1999 resolution to create the African Union* Sirte Oil Company, a Libyan oil companyIn geography:* Gulf of Sirte, alias for Gulf of Sidra on Libya's coast...
and a south-to-north railway 800 km long for iron ore transport from the southern city Sabha to Misrata.
2009
Saudi ArabiaRail transport in Saudi Arabia
The Saudi Railways Organization provides freight services on two main lines totalling 1018 km. These connect Riyadh with the Persian Gulf port of Dammam...
- CRCC wins 6.7 billion Saudi riyal
Saudi riyal
The Riyal is the currency of Saudi Arabia. It is abbreviated as ر.س or SR . It is subdivided into 100 Halalas . The Saudi Ghirsh is 5 Halalas.-History:...
contract to build the first 18 km of the metro in Mecca
Mecca Metro
The Mecca Metro, officially the Al Mashaaer Al Muqaddassah Metro, is an long elevated metro in the city of Mecca, Saudi Arabia, which opened in November 2010.-Background:...