Wider View

 Chinese construction enterprises’ “going out” didn’t date from China’s accession to WTO at all, however, it was obvious to all during the decade that China’s obligation of contracting foreign projects had obtained great-leap-forward development, business scale had expanded rapidly, cooperation filed had broadened constantly, the category of engineering project contracted had been more abundant, the level of projects had been steadily improved and the pattern of contract gradually had acted on international convention. The competition of Chinese construction enterprises had been continuously strengthened in international market, and more and more attention had been paid to Chinese corporations in international project contracting market, having become the bellwether of our country’s implementation on “going out” strategy.

 In the decade, China’s contracting foreign projects had realized new breakthrough in successive years. The statistical data from Ministry of Commerce of the People’s Republic of China showed that the turnover of China’s having contracted foreign projects was US 8.9 billion dollars in 2001 while the turnover reached US 90 billion dollars and the amount of newly-signed contracts reached US 130 billion dollars. Since China has accessed to WTO for ten years, the turnover of China’s having contracted foreign projects had increased by more than 10 times, and average annual growth rate had reached 27.10%, the growth rate of newly-signed contract amount had reached 27.63%, the turnover had reached US 435.6 billion dollars accumulatively, and the amount of contracts signed had reached US 699.4 billion dollars, brilliant achievements having been made.

 In the decade, Chinese corporations had made significant breakthrough in market of the Middle East, west Asia, Latin America and USA besides traditional regional market in Africa, Southeast Asia, etc: Algeria west-east highway --- the largest overseas overall contract work that China had contract to build; Alexander Hamilton reconstruction project in New York, USA --- the important breakthrough Chinese enterprises had obtained in European and American market; Argentina Belgrano freight railway renovation project --- the largest project that Chinese corporations had contracted in South America, etc.

 
Meanwhile, Chinese corporations had made breakthrough in the pattern of participation in international competition: China Communications Construction Company Ltd successfully purchased world famous overseas drilling platform design company --- Spain F&G; China Huanqiu Contracting & Engineering Corporation became the biggest stockholder of Australia LNG Corporation through subscribing to shares. Chinese corporations obtained world’s best engineering technology through general tender offers and pattern of subscription in international market so as to promote their core competitiveness in international market.

 Having accumulated experience in overseas market and expanded the strength for years, many Chinese contractors haven’t been content with “only to pave way for others”, only resting on the subcontract links, such as, construction, labor service, supply of materials, etc, but increasingly in ways of overall construction contract, EPC overall contract, BOT, etc. What’s worth mentioning is that large quantities of EPC, BOT overseas contract projects have driven China equipment manufacturing industry to go abroad; large quantities of equipments made in China have been used in the projects overall contracted by Chinese corporations, such as, power station equipment, cement manufacture equipment, rail-laying machinery, locomotive, etc. In recent years, EPC and BOT projects have been good examples, such as, Africa Angola Railway, Argentina Belgrano freight railway, Cambodia Kamchay Hydropower Station, Vietnam Tay Ninh 4000t/d cement production line, India Vedanta Aluminum Coal-fired Power Plant, etc.