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Pursuant to that its controlling shareholder CRECG undertook a macro reorganization, China Railway Group Limited (China Railway) was established as a joint stock company with limited liability under PRC law on September 12, 2007 with a registered capital of RMB 12.8 billion which is 100% held by CRECG. The history of China Railway Group Limited can be traced back to the Construction Bureau and the Design Bureau of the Ministry of Railways established in 1950. Currently, China Railway is a super-large integrated construction group that encompasses infrastructure construction, survey, design and consulting services, engineering equipment and component manufacturing, property development and other businesses. China Railway Group Limited has 46 subsidiaries, including 28 wholly owned subsidiaries, 15 holding subsidiaries, 4 branch companies and 3 joint venture subsidiaries. In the year of 2005 and 2006, China Railway was the forth and third largest construction company in the world, respectively. In 2007, CREC was ranked 342nd in the Fortune Global 500 companies, and listed the 417th in the World's 500 Most Influential Brands and the 13th in China's Top 500 Enterprises. As of June, 30th, 2007, China Railway has three members of the Chinese Academy of Engineering, 7 National Survey and Design Masters, approximately 390 professor-level senior engineers and approximately 8,000 senior technical personnel. With many technological achievements of independent intellectual property rights, China Railway had won 70 Luban Prizes, 64 National Supreme Quality Project Prizes, 72 National Advanced Science and Technology Prizes, as well as 202 patents, 61 National-Level Engineering Methods and 359 Provincial and Ministry-level Engineering Methods. ith the corporate motto of "strive to challenge limits and achieve excellence", China Railway Group Limited has participated in the construction of all domestic major railway lines and constructed, rebuilt and extended a total length of above 50,000 kilometers, accounting for more ...