An interim report released by ZPMC’s parent company China Communications Construction Company Limited (CCCC) shows that the value of new contracts signed by ZPMC plummeted significantly in the first half of 2009.
“The value of new heavy machinery contracts reached RMB4.299B, representing a year-on-year decrease of 74.3%. As at 30 June 2009, the backlog for the heavy machinery manufacturing business was RMB20.308B, representing a decrease of 42.9% compared to the end of 2008,” the report said....
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