China Railway Engineering Corporation
Encyclopedia
The China Railway Engineering Corporation (Traditional Chinese:中國中鐵 or 中國鐵路工程總公司, Simplified Chinese: 中国中铁 or 中国铁路工程总公司), or simply CREC, is a large-scale state-owned enterprise in the People's Republic of China
.
The corporation runs a spectrum of businesses covering surveying
and designing, construction
and installation
, manufacturing
, R&D, technical
consulting
, capital
management as well as international economic and trade
activities. Its headquarters
are located in Beijing
.
CREC is under the supervision by the State Council of the People's Republic of China
.
n and Chinese largest railway, road
and tunnel
construction contractor
. It has a leading position in China's construction market, and participates in many large-scale infrastructure
projects overseas (especially in countries in the Southeast Asia
and Africa
). Fortune magazine in the United States
reported that CREC ranked 342 in the 500 world's largest enterprises in 2007.
- 16 super-large construction enterprises
- 3 large or super large surveying and designing enterprises
- 3 large R&D enterprises
- 5 large manufacturing enterprises
In addition there are 4 organizations directly run by the Headquarters and 17 subsidiary
companies and project companies. CREC's construction teams are found in over 1,000 cities throughout China except Taiwan Province
(now administrated by the Republic of China
).
s and H share
s on the Shanghai
and Hong Kong
respectively.
The IPO price of A share ranged from 4 to 4.8 Chinese yuan
while that of H share ranged from 5.03 to 5.78 Hong Kong dollar
.
In May 2011 COVEC experienced financial liquidity problems and ceased payments to the subcontractors. As a result, the work was halted. In response to the ultimatum given by the Polish government, COVEC decided to withdraw from the project. There are serious doubts as to whether the company will be able to pay the PLN 741 million in penalties, as the company's assets in Poland account for approximately PLN 130 million.
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...
.
The corporation runs a spectrum of businesses covering 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...
and designing, construction
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...
and installation
Wiktionary
Wiktionary is a multilingual, web-based project to create a free content dictionary, available in 158 languages...
, 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...
, R&D, technical
Technology
Technology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function. It can also refer to the collection of such tools, machinery, and procedures. The word technology comes ;...
consulting
Consultant
A consultant is a professional who provides professional or expert advice in a particular area such as management, accountancy, the environment, entertainment, technology, law , human resources, marketing, emergency management, food production, medicine, finance, life management, economics, public...
, capital
Financial capital
Financial capital can refer to money used by entrepreneurs and businesses to buy what they need to make their products or provide their services or to that sector of the economy based on its operation, i.e. retail, corporate, investment banking, etc....
management as well as international economic and trade
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...
activities. Its headquarters
Headquarters
Headquarters denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top of a corporation taking full responsibility managing all business activities...
are located 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...
.
CREC 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...
.
Scope
CREC is the third largest civil construction enterprise in the world, and the AsiaAsia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
n and Chinese largest railway, road
Road
A road is a thoroughfare, route, or way on land between two places, which typically has been paved or otherwise improved to allow travel by some conveyance, including a horse, cart, or motor vehicle. Roads consist of one, or sometimes two, roadways each with one or more lanes and also any...
and tunnel
Tunnel
A tunnel is an underground passageway, completely enclosed except for openings for egress, commonly at each end.A tunnel may be for foot or vehicular road traffic, for rail traffic, or for a canal. Some tunnels are aqueducts to supply water for consumption or for hydroelectric stations or are sewers...
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:...
. It has a leading position in China's construction market, and participates in many large-scale infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...
projects overseas (especially in countries in the Southeast Asia
Southeast Asia
Southeast Asia, South-East Asia, South East Asia or Southeastern Asia is a subregion of Asia, consisting of the countries that are geographically south of China, east of India, west of New Guinea and north of Australia. The region lies on the intersection of geological plates, with heavy seismic...
and Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
). Fortune magazine in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
reported that CREC ranked 342 in the 500 world's largest enterprises in 2007.
Structure
CREC consists of 31 member enterprises including:- 16 super-large construction enterprises
- China National Overseas Engineering Corporation
- China Railway Resources Co., Ltd.
- China Railway First Group Corporation
- China Railway Erju Group Corporation (China Railway Second Group Corporation)
- Third Engineering Group Co. Ltd
- China Tiesiju Civil Engineering Group Co. Ltd (China Fourth Group Civil Engineering Group Co. Ltd)
- China Railway Wuju Group Corporation (China Railway Fifth Group Corporation)
- China Railway Sixth Group Co. Ltd
- China Railway Seventh Group Co. Ltd
- China Railway Eighth Civil Engineering Group Corporation
- China Railway No. 9 Group Co. Ltd
- China Railway No. 10 Group Corporation
- China Zhongtie Major Bridge Engineering Group Co. Ltd (China Railway Major Bridge Engineering Group Co. Ltd)
- China Railway Tunnel Group
- China Railway Electrification Bureau Co. Ltd
- China Railway Construction Engineering Group
- 3 large or super large surveying and designing enterprises
- Second Survey and Design Institute of China Railway
- China Railway Engineering Consultants Group
- China Major Bridge Survey and Design Institute
- 3 large R&D enterprises
- Northwest Research InstituteResearch instituteA research institute is an establishment endowed for doing research. Research institutes may specialize in basic research or may be oriented to applied research...
- Southwest Research Institute of CREC
- Engineering Machinery Research and Design Institute
- 5 large manufacturing enterprises
- China Railway ShanhaiguanShanhaiguan DistrictShanhaiguan District is a district of the city of Qinhuangdao, Hebei province, People's Republic of China, named after the pass of the Great Wall within the district, Shanhai Pass...
Bridge Group Co. Ltd - China Railway Turnout Bridge Inc.
- China Railway Bus. Co. Ltd.
- WuhanWuhanWuhan is the capital of Hubei province, People's Republic of China, and is the most populous city in Central China. It lies at the east of the Jianghan Plain, and the intersection of the middle reaches of the Yangtze and Han rivers...
Engineering Machinery Works of CREC - Hengping Trust and Investment Co. Ltd.
In addition there are 4 organizations directly run by the Headquarters and 17 subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
companies and project companies. CREC's construction teams are found in over 1,000 cities throughout China except Taiwan Province
Taiwan Province
Taiwan Province is one of the two administrative divisions referred to as provinces and is controlled by the Republic of China . The province covers approximately 73% of the territory controlled by the Republic of China...
(now administrated by the Republic of China
Republic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
).
IPO
In November 2007, CREC announced that it would be listing A shareA share
In finance the term A share has two distinct meanings, both relating to securities.* The first is a designation for a 'class' of common or preferred stock. A shares of common or preferred stock typically have enhanced voting rights or other benefits compared to the other forms of shares that may...
s and H share
H share
H shares In mainland China, the shares are referred to as H股 H shares, whilst in Hong Kong, they are called 恒生中國企業指數, literally Hang Seng China Enterprises Index. refers to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange...
s on the Shanghai
Shanghai 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...
respectively.
The IPO price of A share ranged from 4 to 4.8 Chinese yuan
Chinese yuan
The yuan is the base unit of a number of modern Chinese currencies. The yuan is the primary unit of account of the Renminbi.A yuán is also known colloquially as a kuài . One yuán is divided into 10 jiǎo or colloquially máo...
while that of H share ranged from 5.03 to 5.78 Hong Kong dollar
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...
.
Subsidiary Companies
One of the CREC's subsidiary companies, China Railway Erju Group, has been listed in Shanghai Stock Exchange previously.First China company attempt to make public highway in Europe
This company was the first large Chinese enterprise to win a public tender to build a highway in Europe. They entered the agreement to carry out the construction of two parts of the A2 highway in Poland, a total length of 50km. Their bid amounted to half of the cost initially estimated by the Polish officials.In May 2011 COVEC experienced financial liquidity problems and ceased payments to the subcontractors. As a result, the work was halted. In response to the ultimatum given by the Polish government, COVEC decided to withdraw from the project. There are serious doubts as to whether the company will be able to pay the PLN 741 million in penalties, as the company's assets in Poland account for approximately PLN 130 million.
See also
- China Civil Engineering ConstructionChina Civil Engineering ConstructionChina Civil Engineering Construction Corporation was established in 1979 according to the approval of the State Council of the People's Republic of China....
Company (CCEC) - Real estate in the People's Republic of ChinaReal estate in the People's Republic of ChinaReal estate in the People's Republic of China is developed and managed by public, private, and state-owned red chip enterprises. Currently the market is experiencing tremendous growth and the central government has implemented measures to tighten interest rates, increase deposit and impose...