China National Machinery Industry Corporation(SINOMACH), established in January 1997 with the approval of the State Council, is a large state-owned enterprise group integrating technology, industry, trade and financial services into one entity. SINOMACH, consisting of major companies and institutions attached to the former Ministry of Machinery Industry, is now under direct control of the State Assets Supervision and Administration Commission of the State Council. The company, with a registered capital amounting to 2.05 billion yuan. The headquarter of SINOMACH is channelled into 11 functional departments, administering 54 wholly state-owned or share-controlled subordinates that can be categorised into 23 industrial trading firms, 20 research and development institutions, 5 survey and design institutes, 2 manufacturers,2 service enterprise,1 construction enterprise, 1 financing company. By the end of July 2004, total assets of SINOMACH add up to 29.1 billion yuan,has 38000 employees. The business scope of SINOMACH involves general contracting of large-sized engineering projects at home and abroad, international economic and technical cooperation, imports and exports of mechanical and electrical products, developing high-tech and major equipments, commercialising scientific research achievements, providing manufacturing and marketing services, domestic and foreign construction projects feasibility study, technical consulting, survey and design, engineering supervision and programme management,auto service trade etc. SINOMACH is one of the largest international engineering contractors in China. Its core business is general contracting of international engineering projects based with complete sets of machinery and power equipment. The total power generation capacity from the contracted projects exported and engineered by SINOMACH has reached 6,000MW. In 2005, SINOMACH is listed No. 47 in the “Global ENR 225 Largest International Contractors”. In the past few years, SINOMACH has carried the “going out” development strategy, and has successfully implemented a large number of international engineering projects including the Bangladesh digital communications project, the Malaysia Kuching coal-power project, the Thilawa Shipyard in Myanmar, the 18500T Chemical Ship for Belgium. The contracting market is in constant expansion, involving not only the traditional machinery sector, but also sectors in power generation, transportation, automobiles, telecommunications, light industry, textiles, petroleum, chemicals, mining and environmental protection. In 2004, total import and export volume accomplished by SINOMACH exceeded 2.758 billion US dollars (in which exports amounted to 1.693 billion US dollars). With project contracting and high-tech product development as the mainstay, SINOMACH will continue its endeavour to be a global player implementing scientific management with diversified capital structure and integrated services.