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Saturday, October 07, 2006

China's Overseas Engineering Contracts Grow 45.5% in value

According to Xinhua news on Oct. 6th, China completed 17.1 billion US dollars of overseas contract business in the January to August period, up 45.5 percent year on year.

The statistics released by the Ministry of Commerce show that total of US$32.7 billion new contracts were signed in the first eight months, a 105.6 percent jump.

The US$6.25 billion western sections of the Algerian East-West Highway project won by China's CITIC Group and China Railway Construction Corporation is the largest one by value.

China had accumulated revenues of 152.9 billion US dollars on overseas contracts and signed contracts worth a total of 218.6 billion US dollars.

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