China Communications Construction Company
|Industry||Engineering and Construction|
|Headquarters||85 De Sheng Men Wai Street, Xicheng District,|
|Owner||State-owned Assets Supervision and Administration Commission of the State Council (63.8%)|
Number of employees
|Subsidiaries||China Road and Bridge Corporation|
China Harbour Engineering
John Holland Group
|China Communications Construction Co., Ltd.|
|China Communications Construction|
|Second alternative Chinese name|
China Communications Construction Company, Ltd. (CCCC) is a majority state-owned, publicly traded, multinational engineering and construction company primarily engaged in the design, construction and operation of infrastructure assets, including highways, bridges, tunnels, railways (especially high-speed rail), subways, airports, oil platforms, and marine ports. CCCC has been a contractor for numerous Belt and Road Initiative projects.
CCCC's predecessors can be traced back to the Qing Dynasty, when the Junpu Engineering Bureau was established in 1905. The company was officially formed in 2005 by the merger of China Road and Bridge Corporation (CRBC) and China Harbour Engineering Company (CHEC), which focus on transportation infrastructure and marine infrastructure, respectively. In 2006, the company listed shares on the Hong Kong Stock Exchange, followed by a listing on the Shanghai Stock Exchange in 2012.
The company has numerous subsidiaries including John Holland Group, which is an Australia-based construction company focused on infrastructure, and Friede & Goldman, which engineers offshore vessels for the oil and gas industry.
CCCC is a "blue chip" stock (part of the CSI 300 Index). State-owned Assets Supervision and Administration Commission of the State Council (SASAC) holds 63.8% of the company's shares. Other shareholders include multiple affiliates of (or funds managed by) Merrill Lynch, BlackRock and JPMorgan Chase.
World Bank debarment
In 2009, the World Bank Group debarred CCCC for eight years due to fraud on highway projects in the Philippines. In that year, the company allegedly transferred $19 million to Teodorin Obiang, son of the President of Equatorial Guinea, according to a 2013 US asset-forfeiture case. In 2010, one of CCCC's subsidiaries, China Habour Engineering Company, won the contract to build the Magampura Mahinda Rajapaksa Port. In 2018, Bangladesh banned the China Harbour Engineering Company, a CCCC subsidiary, after attempted corruption to win a highway tender.
CCCC is active in dredging projects in areas under dispute in the South China Sea, highway-building in Xinjiang, and building naval logistics installations at Gwadar Port. In August 2020, the United States Department of Commerce placed several CCCC subsidiaries on the Bureau of Industry and Security's Entity List for their construction work to militarize artificial islands in the South China Sea. The same month, the United States Department of Defense released the names of additional “Communist Chinese military companies” operating directly or indirectly in the United States. CCCC was included on the list. In November 2020, Donald Trump issued an executive order prohibiting any American company or individuals from owning shares in companies, including CCCC, that the U.S. Department of Defense has listed as having links to the People's Liberation Army. In December 2020, the United States Department of Commerce added CCCC itself to the Entity List.
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