The CSCEC was founded in 1957 as a state company. Early on the country had an international profile building heavy industry and infrastructure in Asia, Africa, and the Middle East. The predecessor company opened its first overseas office in Kuwait in the late 1970s. The company broke from its regionally confined work pattern when it entered the U.S. market in 1985, opening an office in Atlanta. The U.S. subsidiary began by building housing developments with joint venture partners before undertaking its first sole development, Lantana Lakes, a 107 acre, $27 million complex of 42 homes, in 1987 in Jacksonville, Florida.
With the encouragement of the Chinese government and financing assistance from the Export-Import Bank of China, CSCEC has taken increasingly bold steps as a builder and investor of overseas projects. In 2011, the going abroad trend hit a new high when Bahamas Resorts, a $3.4 billion casino and resort built and partially owned by CSCEC, opened after “extremely aggressive” efforts by the company to link with the Bahamas developer that started the project. It was the largest construction project undertaken by a Chinese company outside of China.
Working in both domestic and overseas markets, CSCEC has now grown into China’s largest construction and real estate conglomerate and contractor of building works. It is the largest construction company in developing countries and the top home builder in the world.
CSCEC has expanded its business to over 29 countries with establishment of 29 branches around the world. From 1982 till now, the accumulated contract value of CSCEC totals 4 trillion yuan with a turnover amounting to 2.3 trillion yuan. CSCEC wins the flagship of China’s construction industry for having the total assets in 2011 exceeding 500 billion yuan. CSCEC has been included in 225 top international contractors since 1984, placing No. 20 in the ranking for 2011, and has made its debut in Fortune Global 500 in 2007, ranking No. 147 in 2011 and No. 100 in 2012.
CSCEC is one of the most integrated construction and real estate conglomerates in China with the longest history of specialized operation and market-oriented management. It possesses a complete industrial chain of construction products covering technology R/D, design, construction contracting, property development, manufacturing of equipment and property management. CSCEC is the only construction enterprise in China certified for 3 top grade Qualifications, as well as for “1+4” Qualifications and Grade A Qualification for project design in the construction industry.
CSCEC is well known for undertaking super high-rise, super scale construction, cutting-edge and novel projects. It has completed in China and abroad a great number of large projects that are of tight construction period, high quality requirement and challenging work execution. CSCEC adheres to its own business philosophy and brand image that are widely acknowledged and highly praised.
CSCEC always considers management, scientific and technical progressing as the engines for its sustainable development. By June 2011, CSCEC had won 8 State Scientific and Technological Progress Awards, 1 State Technological Invention Award, 19 State Good Design Awards, 327 Provincial Scientific and Technological Progress Awards, 127 National Construction Methods and 898 Provincial Construction Methods Awards. CSCEC has also applied for 2,326 and had been granted 1,622 patents.
CSCEC, as a central enterprise firmly performs its political, social and economical responsibilities, it generates approximately 800,000 jobs for the society annually.
China Construction was successfully listed in Shanghai Stock Exchange on July 29th, 2009, raising some 50 billion yuan.
CSCEC shall stride forward towards the goal of becoming the most competitive construction and real estate conglomerate in international market.