China Communications Construction Corp. Ltd. formed through the merger and restructuring of two central enterprises (enterprises directly under the central government) was officially founded yesterday in Beijing.

It was learned that this is another major move by the State-owned Assets Supervision and Administration Commission (SASAC) to enhance competitiveness of central enterprises.

The predecessors of China Communications Construction are the former China Harbor Engineering Company (Group) and China Road & Bridge Corporation. It has a registered capital of 4.5 billion yuan with total assets approaching 70 billion yuan and over 70,000 employees.

China Communications Construction is mainly engaged in design and construction of large, super-scale transportation infrastructure projects.

By People's Daily Online