China Communications Construction Company, Ltd. (CCCC) is a majority

state-owned State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public owne ...

, 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 High-speed rail (HSR) is a type of rail system that runs significantly faster than traditional rail, using an integrated system of specialised rolling stock and dedicated tracks. While there is no single standard that applies worldwide, lines ...

), subways, airports, oil platforms, and marine ports. CCCC has been a contractor for numerous

Belt and Road Initiative The Belt and Road Initiative (BRI, or B&R), formerly known as One Belt One Road ( zh, link=no, 一带一路) or OBOR for short, is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 1 ...

projects.

History

CCCC's predecessors can be traced back to the

Qing Dynasty The Qing dynasty ( ), officially the Great Qing,, was a Manchu-led imperial dynasty of China and the last orthodox dynasty in Chinese history. It emerged from the Later Jin dynasty founded by the Jianzhou Jurchens, a Tungusic-speak ...

, 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 China Harbour Engineering Company Ltd (CHEC) is an engineering contractor and a subsidiary of China Communications Construction Company (CCCC), providing infrastructure construction, such as marine engineering, dredging and reclamation, road and ...

(CHEC), which focus on transportation infrastructure and marine infrastructure, respectively. In 2006, the company listed shares on the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...

, followed by a listing on the

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Excha ...

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.

World Bank debarment

In 2009, the

World Bank Group The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Gr ...

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 Teodoro Nguema Obiang Mangue (born 25 June 1968, nicknamed Teodorín) is the Vice President of Equatorial Guinea, in office since 2016. He is a son of Teodoro Obiang, the authoritarian leader of Equatorial Guinea, by his first wife, Constancia M ...

, son of the President of Equatorial Guinea, according to a 2013 US asset-forfeiture case. In 2010, one of CCCC's subsidiaries, China Harbour 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.

Bribery allegations

One of the company's subsidiaries,

, was under investigation in Bangladesh and The Philippines in 2018 and 2020, respectively, for alleged bribery.

U.S. sanctions

CCCC is active in dredging projects in areas under dispute in the South China Sea, highway-building in

Xinjiang Xinjiang, SASM/GNC: ''Xinjang''; zh, c=, p=Xīnjiāng; formerly romanized as Sinkiang (, ), officially the Xinjiang Uygur Autonomous Region (XUAR), is an autonomous region of the People's Republic of China (PRC), located in the northwes ...

, and building naval logistics installations at

Gwadar Port The Gwadar Port ( ur, ) is situated on the Arabian Sea at Gwadar in Balochistan province of Pakistan and is under the administrative control of the Maritime Secretary of Pakistan and operational control of the China Overseas Port Holding Co ...

. In August 2020, the

United States Department of Commerce The United States Department of Commerce is an executive department of the U.S. federal government concerned with creating the conditions for economic growth and opportunity. Among its tasks are gathering economic and demographic data for bus ...

placed several CCCC subsidiaries on the Bureau of Industry and Security's

Entity List The Entity List is a trade restriction list published by the United States Department of Commerce's Bureau of Industry and Security (BIS), consisting of certain foreign persons, entities, or governments. Entities on the Entity List are subject to ...

for their construction work to militarize artificial islands in the

South China Sea The South China Sea is a marginal sea of the Western Pacific Ocean. It is bounded in the north by the shores of South China (hence the name), in the west by the Indochinese Peninsula, in the east by the islands of Taiwan and northwestern Ph ...

. The same month, the

United States Department of Defense The United States Department of Defense (DoD, USDOD or DOD) is an executive branch department of the federal government charged with coordinating and supervising all agencies and functions of the government directly related to national sec ...

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 Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump graduated from the Wharton School of the University of P ...

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 The People's Liberation Army (PLA) is the principal military force of the China, People's Republic of China and the armed wing of the Chinese Communist Party (CCP). The PLA consists of five Military branch, service branches: the People's ...

. In December 2020, the United States Department of Commerce added CCCC itself to the Entity List.

Shareholders

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 Merrill (officially Merrill Lynch, Pierce, Fenner & Smith Incorporated), previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investment ba ...

, BlackRock and

JPMorgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, t ...

Projects

* Karnaphuli Tunnel, Bangladesh

References

External links

* {{authority control Construction and civil engineering companies of China Railway construction companies of China Government-owned companies of China Construction and civil engineering companies established in 2005 Chinese companies established in 2005 Companies in the Hang Seng China Enterprises Index Companies in the CSI 100 Index Companies listed on the Hong Kong Stock Exchange Companies listed on the Shanghai Stock Exchange H shares Defence companies of China