Chinese engineering projects abroad valued at some 5 billion euros in first quarter

27 April 2006

Beijing, China, 27 April – Chinese engineering companies carried out work outside the country to the value of 4.82 billion euros in the first quarter of 2006, with Angola as one of the main markets, the Chinese press reported Thursday.

The engineering projects in countries and territories such as Angola, Sudan, Nigeria, Algeria, Hong Kong and Singapore are those that mainly account for the results of the first quarter, which represent an increase of 65.2 percent year on year, official Chinese newspaper People’s Daily reported, quoting sources from the Trade ministry.

The paper, which gave no details about specific countries, said that most engineering contracts carried out by Chinese companies abroad were for the construction, transport, electronic, petrochemical and power and industrial engineering sectors, as well as water supply and irrigation projects.

In the first three months of the year, China sent 3.546 million workers abroad, the People’s Daily said.

Manay non-domestic engineering projects are financed by Chinese aid to developing countries, which as a rule imposes contracting of Chinese companies for construction of infrastructures, consultancy and management and implementation of development programs.

Chinese companies all export labor for construction, oil exploration and crews for fishing and commercial fleets, amongst others.

The People’s Daily, citing Trade Ministry sources, said that in the first quarter of this year, China also signed engineering contracts outside the country to a total value of US$6.65 billion euros, an increase of 79.3 percent for the same period of 2005. (macauhub)