For CCCC’s partners and customers, a global track record of risk amid the pursuit of CCP policy.
This visual provides a summary of the variety and scope of risk concerns confronting CCCC’s partners and customers across the globe.
CCCC: A Sample Set from a Decade of Notable Risk Events.
This visual provides a summary depiction of just how many risk events have been recorded over the past 10 years.
CCCC: A Global Footprint of Business Activity.
At the parent level and through its various subsidiaries, China Communication Construction Company (CCCC), has engaged in business activity over the past decade in a manner that has spanned the globe.
EVIDENCE OF A CLOSE RELATIONSHIP WITH THE CHINESE STATE
Below is a sampling of reported mechanisms and statistics that demonstrate the close relationship between CCCC and the Chinese state.
TIMELINE OF RISK EVENTS, 2010 — Present
RWR has conducted extensive study and analysis of CCCC’s global business transactions over the past decade and the reports of risk that have emerged from those engagements.
Allegations of Corruption, Non-Transparency or Unethical Bidding Practices
Accusations of Serving as Instrument of State Coercion
Allegations of Concerns Related to the Environment or Labor Practices
Projects that Have Raised Predatory Financing Concerns
Allegations of Corporate or Project Ties to the Chinese Military
|Date and Location||Category||Event||Description|
RWR has conducted extensive study and analysis of CCCC in the form of alerts and in-depth reports that are based primarily on granular, transactional research. This is a sampling of our overall data and analysis. More is available on request.
Our alerts provide real-time analysis of events and transactions at the intersection of economics, finance and national security.
July 28, 2020
China Orders Payment from Private Maldives Loan Recipient that Is Backed by State Guarantees, Applying Financial Pressure on Country
On July 27, local media reports in the Maldives indicated that the Export-Import Bank of China had ordered the country to repay $10 million of a $127 million loan issued to a private Maldivian construction company by August 6. The loan was initially issued in 2017 to Sun Siyam Resorts Pvt. Ltd. Although a private company, the loan to Sun Siyam Resorts was backed by Maldivian state guarantees. Read more
December 31, 2018
Kenya’s Port of Mombasa is Reportedly Considered Collateral for the Country’s Railway Loans from China
On December 20, a report authored by the Auditor-General’s office of Kenya was circulated, showing that, in 2013, the Kenyan government waived sovereign immunity in the course of negotiating a $3.3 billion loan from the Export-Import Bank of China for construction of the Standard Gauge Railway (SGR), which reportedly has the effect of collateralizing the Port of Mombasa under this debt. Read more
May 29, 2018
Canadian Government Blocks CCCC Acquisition of Aecon, Citing National Security Concerns
On May 24, 2018, following an extensive foreign investment review, the Canadian government blocked the sale of prominent construction firm Aecon Group to China Communications Construction Company International (CCCCI) on national security grounds. Control of critical infrastructure projects and an overall threat to Canadian sovereignty were the primary concerns cited by the Trudeau government for their decision. Read more
September 4, 2016
China Stationing Military and Dredging Vessels at Scarborough Shoal
On Sunday, September 4, the Philippine navy observed ten Chinese vessels stationed a mile off of Scarborough shoal. The ten ships included four Chinese Coast Guard vessels and six others, including dredgers - a significant uptick from the usual Chinese flotilla that has been stationed at the shoal since seizing it in 2012. Read more
Our reports assess risk exposure and strategic penetration of select countries, industries & companies.
August 28, 2020
The U.S. Capital Markets Footprint of China Communications Construction Company and Its Subsidiaries
This report documents the footprint of publicly traded equity and debt issuances of China Communications Construction Company (CCCC) and certain of its subsidiaries in the U.S. capital markets and, to a lesser extent, other global exchanges. It does so in the context of recent actions taken by the U.S. Departments of State and Commerce to add subsidiaries of the company to the latter's “Entity List” for their involvement in artificial island-building in the South China Sea. This report also addresses the various material risk factors and reputational concerns at play with respect to CCCC's corporate family tree in the categories of national security, corruption, non-transparency and environmental concerns. Finally, the report offers illustrations of prominent financial institutions dealing in the securities of the company as well as prominent institutional investors holding them in portfolio.
RWR in the news
August 28, 2020
Washington Post: RWR CEO Roger Robinson Comments on CCCC’s Extensive Footprint in the U.S. Capital Markets
On August 27, Josh Rogin of the Washington Post reported on the addition of various subsidiaries of China Communications Construction Company (CCCC) to the Entity List under the auspices of the U.S. Department of Commerce. The designation pointed to the involvement of these companies in China's artificial island-building in the South China Sea. Per the U.S. Department of State, "CCCC and its subsidiaries have [also] engaged in corruption, predatory financing, environmental destruction, and other abuses across the world." In his piece, Mr. Rogin noted the significant footprint of these firms in the U.S. capital markets. With regard to these circumstances, RWR CEO Roger W. Robinson, Jr. stated that “Scores of millions of average American investors are unwittingly helping fund CCCC and other Chinese state-owned giants through their stock and bond index funds, pension funds and other investment vehicles that Wall Street fund managers and others are mainlining into their investment portfolios.”
March 5, 2019
Davenport Quoted in Irrawaddy
On March 4, RWR Chief Operating Officer Andrew Davenport was quoted in the Irrawaddy regarding China Communications Construction Company (CCCC), which is involved in building the New Yangon City project. Mr. Davenport said that CCCC and other Chinese state-owned enterprises have a track record of bidding on projects for their strategic value, rather than for commercial reasons.
September 19, 2018
RWR Data Featured by Bloomberg
On September 18, RWR research was featured in a Bloomberg Businessweek profile on the global footprint of China Communications Construction Company (CCCC), the biggest construction firm working on the Belt and Road Initiative. Our findings put them ahead of other Chinese state-owned enterprises, such as China State Construction Engineering Corporation (CSCEC) and PowerChina.