China Railway Engineering Group

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Fortune Global 500

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

G500-2023-China Railway Engineering Group

China Railway Engineering Group is the world’s second-largest construction company, behind only China State Construction Engineering. 
<ul> 
 	<li>In 2022, the company reported signing new contracts worth the equivalent of more than $400 billion in future revenues. That represented an increase of 11% over 2021. Contracts for overseas projects made up about 6% of the new total, but grew almost twice as fast as the company’s domestic business.</li> 
 	<li>Overall, overseas contracts for Chinese engineering firms declined slightly year over year in 2022, according to China’s ministry of commerce—a sign of political headwinds and a slowing global economy.</li> 
 	<li>China Railway Engineering Group in 2022 developed a motorized hard rock tunnel boring machine. It also introduced a floating magnetic levitation air track train, reportedly the world’s first such vehicle, called the “Red Rail.”</li> 
</ul>

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

G500 2022-34-China Railway Science and Industry Group

China Railway Engineering Group saw 17.7% revenue growth in 2021, thanks to an increase in its infrastructure construction business, bringing it up to No. 34 on the Fortune Global 500. It is the world’s second largest construction company, behind only China State Construction Engineering, and China’s 10th-largest company by revenue. China Railway Group, its publicly traded subsidiary, secured 46.6% of China’s large and medium-size railway projects in 2021; it has also benefited from China’s zero-COVID policy, building a number of makeshift hospitals across the country. Despite pandemic-related setbacks owing to supply-chain and labor shortages, the company brought in over $8 billion in revenue from overseas, thanks to projects including the construction of a major bridge in Bangladesh, completed in June 2022; a 67-kilometer (41-mile) railway in Egypt that opened in July 2022; and a $2.77 billion contract for a railway project in the Philippines, signed in January 2022.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500-2021-035-China Railway Engineering Group

Already responsible for building two-thirds of China’s railway network and three-fifths of its metros, the state-owned China Railway Engineering Group now wants to reshape global infrastructure. In 2020, the rebound of its home market buoyed China Railway—revenue increased 15%—even after pandemic lockdowns shelved Chinese projects early in the year. This year, China Railway has pushed forward on overseas projects—a new railway in Laos, a high-speed rail in Indonesia, an electrified-rail project in Tanzania. Continued pandemic restrictions have stunted some of the firm’s global growth. For example, New Belt and Road Initiative contracts tied to China’s signature foreign infrastructure investment program declined 8.7% in the first quarter of 2021 compared with the same period last year.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-2020-050-China-Railway-Engineering-Group

The company that built two-thirds of China’s railway network is now at the forefront of China’s global infrastructure outreach. In coordination with Beijing's Belt and Road Initiative (BRI), China Railway Engineering Group reported $18.2 billion worth of new contracts overseas in 2019 (85% of which were in BRI countries), a 22% growth in comparison to 2018. Its projects include high-speed railways in Laos, Indonesia, Hungary, and Serbia. The company’s domestic business remained steady too as it reported a 28% jump in the value of new projects in 2019. China Railway Engineering Group couldn't escape the effects of pandemic lockdowns in early 2020, though, as revenue and profits dipped 2% and 7%, respectively, in the first quarter.

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

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The 130-year-old China Railway Engineering Group Ltd. (known as CREC) is one of the world’s largest construction and engineering contractors. It does infrastructure construction, industrial equipment manufacturing, scientific research and consulting, real estate development, and resources development. It began in the late 19th century when China Shanhaiguan Manufactory (now a subsidiary of CREC) was set up to manufacture railway tracks and metal bridges for the first railway project designed and constructed by the Chinese.

China Railway Engineering Group

China Railway Engineering Group in Fortune Rankings