Railway company finds new engines for growth

Founded in 2004, China Railway 10th Engineering Group Co has realized robust growth during the past decade through optimizing its industrial structure.

A subsidiary of the State-owned China Railway Engineering Corp, the Shandong-based company has completed construction projects worth a total of 246.7 billion yuan ($40 billion), bringing in 164.3 billion yuan in revenue. Its total assets have grown to 20.3 billion yuan from only 1.7 billion yuan in 2004.

"We have become a competitive construction contractor both in domestic and overseas markets, with more than 30 billion yuan worth of construction projects completed annually. The value is about 10 times of that in 2004," the company's Party chief Wan Guanqun said.