China Railway Group Limited
|Chairman: Li Changjin|
|Products||Railways, Highways, Installation, Design, Survey, Manufacturing, Real Estate, Resources, Investments|
|Owner||Chinese Government (via China Railway Engineering Corporation)|
Number of employees
|283,637 (30 June 2018)|
|Parent||China Railway Engineering Corporation|
|Literal meaning||China China Railway Company Limited by Shares|
|Chinese short name|
China Railway Group Limited known as CREC (the acronym of its predecessor and parent company China Railway Engineering Corporation) is a Chinese construction company which floats in Shanghai and Hong Kong stock exchanges. The major shareholder of the company is the state-owned China Railway Engineering Corporation (CRECG).
By revenue, CREC is the largest construction company in the world in the 2015 Engineering News-Record "Top 225 Global Contractors". In 2016, CRECG ranks in the 57th place among Fortune Global 500 Enterprises and the 7th place among Top 500 Chinese Enterprises.
CREC holds a large share of the Chinese construction market and participates in many large-scale infrastructure projects overseas (especially in countries in the Southeast Asia and Africa). In addition to the core business of construction, the company does business in surveying and designing, installation, manufacturing, R&D, technical consulting, capital management as well as international economic and trade activities.
In November 2007, CREC announced that it would be listing A shares and H shares 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. CREC joined the Hang Seng China Enterprises Index from 10 March 2008.
In support of a cross country railway building boom in Venezuela, CREC began construction in 2009 of the Anaco-Tinaco railroad, an 800 million USD project to building a 471 km high speed railway line through the agriculture belt.
This company appeared to break new ground in the European Union in 2009 when the COVEC subsidiary along with two Chinese partners were awarded the tender to construct two parts of the A2 highway in Poland. The project began well in the design and preparation stages with COVEC demonstrating "technical acumen" but work ran aground at later stages because of mismanagement within a tight regulatory framework, ending in failure for COVEC and replacement by other contractors.
In the media
The works of a CREC subsidiary active in the Democratic Republic of the Congo are the focal point of the 2011 documentary Empire of Dust. The film is directed by Belgian filmmaker Bram Van Paesschen. In the documentary, the employees of the company just set up camp near the mining city of Kolwezi. The goal of CREC is to redo the road - covering 300 kilometers - that connects Kolwezi with Lubumbashi. The Chinese man Lao Yang is head of logistics of the group.
Since a massive resources-for-infrastructure deal in 2007, China endeavors to take on a wide range of development projects (including roads, hospitals, schools and airports) to be paid for by Congo’s immense copper and cobalt reserves. Though a promising deal for the Congolese– the majority of whom live on less than $1.25 a day– the deal’s lack of transparency has made it the subject of scrutiny for human rights organizations. Empire of Dust examines the human aspect of this exchange. The documentary is lauded for its depiction of the cultural differences between the Chinese and Congolese employees.
- As of 31 December 2014
CREC received former no.1 to 10 bureau of Ministry of Railways, which became:
- China Railway First Group Co., Ltd.
- China Railway No.2 Group Co., Ltd.
- China Railway No.3 Engineering Group Co., Ltd.
- China Tiesiju Civil Engineering Group Co., Ltd. (CTCE)
- China Railway No.5 Engineering Group Co., Ltd.
- China Railway Sixth Group Co., Ltd.
- China Railway Seventh Group Co., Ltd.
- China Railway No.8 Engineering Group Co., Ltd.
- China Railway No.9 Engineering Group Co., Ltd.
- China Railway No.10 Engineering Group Co., Ltd.
CREC also had the following subsidiaries
- China Overseas Engineering Group Co., Ltd.
- China Railway Major Bridge Engineering Group Co., Ltd.
- China Railway Electrification Engineering Group Co., Ltd.
- China Railway Electrification Engineering Group Nanjing Co., Ltd. (30%)
- China Railway Construction Group Co., Ltd.
- China Railway Tunnel Group Co., Ltd.
- China Railway International Group Co., Ltd. (CRECGI)
- China Railway Shanhaiguan Bridge Group Co., Ltd.
- China Railway Real Estate Group Co., Ltd.
- China Railway Resources Group Co., Ltd.
- China Railway Trust Co., Ltd.
- China Railway Finance Co., Ltd.
former design bureau
- non-wholly owned subsidiaries that have material non-controlling interests
- "The Top 225 Global Contractors". Engineering News-Record.
- "Global 500". Fortune.
- "CREC joined Hang Seng China Enterprises Index" (PDF). Archived from the original (PDF) on 2008-10-31. Retrieved 2015-06-07.
- Kroth, Olivia (October 9, 2012). "President Chávez continues Venezuela's railway development". Pravda.
- Broomby, Rob (16 September 2009). "China's controversial Polish contract". BBC News.
- "European Project Trips China Builder". Wall Street Journal. June 4, 2012.
- "Empire of Dust – IMDB Plot Summary". IMDB.
- Documentary (2011). "Empire of Dust  China in Africa". YouTube (run time 1:15:21). Retrieved September 3, 2017.
- Scott, Daniel James. "Director Bram Van Paesschen on Empire of Dust | Filmmaker Magazine". Filmmaker Magazine. Retrieved 2017-02-14.
- "China's 'infrastructure for minerals' deal gets reality-check in Congo". Reuters. 2017-07-09. Retrieved 2017-02-14.
- English Translation of 2014 Annual Filing to Hong Kong Stock Exchange]
- "Company Profile". China Railway Eryuan Engineering Group. Retrieved 17 October 2017.
- Official Site (in Chinese) (in English)