Approved by the State Council, Power Construction Corporation of China (POWERCHINA) is a wholly State-owned company founded on Sept 29, 2011 on the basis of 14 provincial, municipal, and district electric power survey and design, engineering, and equipment manufacturing enterprises formerly affiliated to Sinohydro Group Ltd, HydroChina Corporation, State Grid Corporation of China, and China Southern Power Grid Co Ltd.
POWERCHINA is a large comprehensive construction group that offers solutions to the entire chain of the global energy and power, water resource and environment, infrastructure, and real estate industries. Its main businesses cover energy and power, water conservancy, railways and subways, roads, airports, buildings, water environmental governance, city infrastructure, large civic engineering and construction, as well as investment, planning, and design, project contracting, equipment manufacturing, and operation of projects. It highlights a core competence in hydro power projects and industry chain integration. Authorized by relevant national ministries and commissions, POWERCHINA also works in the national planning and review of hydropower, wind power, solar power, and other clean energy and new energy sources.
In 2018, POWERCHINA achieved the business revenue of 404.9 billion yuan ($59.93 billion), with profits reaching 13.8 billion yuan. By the end of 2018, the assets totaled 852.9 billion yuan. It ranked 182nd among Fortune Global 500 in the year 2018 and 41st among Top 500 Enterprises of China; placing sixth on the list of the world's 250 largest global contractors and placing second among top 150 engineering design companies worldwide according to ENR. For six consecutive years, it has been evaluated as a Grade A enterprise by the State-owned Assets Supervision and Administration Commission of the State Council.
POWERCHINA now has eight national research and development (R&D) institutions, 82 provincial R&D institutions, eight academicians' workstations, and six postdoctoral workstations. Eighty-six of its member companies and subsidiaries have been identified as high-tech enterprises. In addition, POWERCHINA has won 110 national science and technology awards, 2,293 provincial and ministerial-level scientific and technological progress awards, and owns 12,136 patents (including 1,890 invention patents).
As of 2018, POWERCHINA has won 88 items of the China Construction Engineering Luban Prize, 49 National Quality Engineering Golden Awards, 167 National Quality Engineering Awards, 25 Tien-yow Jeme Civil Engineering Prizes, 33 China Quality Water Engineering Awards, and 150 National Quality Engineering and Consulting Awards.