China State Construction sees mixed performance, leadership change

China State Construction Engineering Corp. reported a 1.0% increase in total new contract value to RMB28,799bn for January-August 2025. This was primarily driven by a 1.8% rise in new construction contracts, reaching RMB26,644bn. Within construction, infrastructure saw 5.0% growth to RMB8,954bn, while housing construction recorded a modest 0.2% increase to RMB17,606bn.

Domestically, new contracts grew by 2.2% to RMB25,306bn, though overseas contracts declined by 5.4% to RMB1,338bn. The company’s real estate segment experienced a 7.9% drop in contract sales to RMB2,155bn.

In related news, the company’s board of directors held its twenty-first meeting on September 12, 2025, approving two key resolutions. The board passed a resolution concerning adjustments to the headquarters’ departments. Additionally, the board approved Mr. Wu Bingqi to step down as vice president and chief legal counsel due to a job transfer.

Mr. Wu Bingqi’s departure, effective September 12, 2025, follows an internal job transfer, and he will no longer hold any positions within the company or its subsidiaries. The board confirmed that his resignation will not impact the company's normal operations, highlighting that he has completed the necessary handover procedures.