China Overseas Engineering Group Co., Ltd (hereinafter referred to as COVEC or Company), located in Haidian District,Beijing, is a state-owned integrated enterprise with independent legal person status. The Company was initiated and founded by China National Complete Plant Export Corporation in 1987; it became a subsidary enterprise of the former Ministry of Foreign Trade and Economic Cooperation in October 1991, and was officially named as China National Overseas Engineering Corporation. The Company was incorporated into the former Working Committee for Central Enterprises in October 1998, and into the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in 2003. Approved by the SASAC on December 19, 2003, the Company restructured strategically with China Railway Group Limited (hereinafter referred to as CREC) and became its subsidiary. In the year of 2020, CREC carried out major strategic reform for its overseas business development mechanism, with the pattern of “One-entity, Two-wings, and N-drives”. COVEC, taking the role of one wing, will shoulder the leading responsibility in promoting the development of overseas markets vigorously.
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