Zhejiang Communications Group

Zhejiang Provincial Communications Investment Group is a provincial-level wholly state-owned transportation company formed in accordance with the requirements of the Zhejiang Provincial Government, with the former Zhejiang Provincial High-grade Highway Investment Co., Ltd. as the main entity, and incorporating four other directly affiliated enterprises under the Provincial Department of Transportation. It was registered and established on December 29, 2001. In July 2016 and July 2018, according to the decisions of the Zhejiang Provincial Party Committee and Provincial Government, the Group merged and restructured with the Provincial Railway Group and the Provincial Commercial Group respectively. As the province's main platform for comprehensive transportation investment and financing and the main force for comprehensive transportation construction, the Group coordinates the investment, financing, construction, operation, and management of transportation infrastructure such as highways, railways, important cross-regional rail transit, and comprehensive transportation hubs across the province, and actively participates in municipal and county-led comprehensive transportation infrastructure projects. Zhejiang Communications Group resolutely implements the decisions and deployments of the Provincial Party Committee and Provincial Government, strengthens reform, optimizes governance, seeks development, and prevents risks. The foundation for high-quality development has become more solid, and the transformation and upgrading have shown a good momentum, making positive contributions to Zhejiang's transportation industry and economic and social development. The "main platform" continues to grow. In 2025, the Group achieved operating revenue of 365.3 billion yuan and total profit of 10.8 billion yuan. As of the end of December 2025, the Group had total assets of 1,147 billion yuan and about 48,000 employees, with 430 wholly-owned or controlled enterprises at all levels and 6 listed companies (Zhejiang Expressway, Zhejiang Jiaoke, Zheshang Zhongtuo, Zheshang Securities, Zhenyang Development, Jianghai Co., Ltd.). In 2022, it was awarded the Zhejiang Province High-Quality Development Enterprise, and ranked 330th on the 2025 Fortune Global 500 list, with its comprehensive strength steadily ranking among the top tier of provincial-level transportation enterprises nationwide. The "main force" is effective and well-positioned, having cumulatively invested in the construction of 3,673 kilometers of highways within the province and participated in the construction of 3,560 kilometers of railways (including 1,435 kilometers of controlled railways), accounting for 64% and 79% of the provincial totals respectively. During the "14th Five-Year Plan" period, it completed a cumulative transportation investment of 399 billion yuan, accounting for 22% of the provincial total, an increase of 35% compared to the "13th Five-Year Plan" period, and built 1,000 kilometers of smart highways. The "main support" has been continuously consolidated, forming a "1+4" business layout covering smart transportation, new infrastructure, new supply chain, new finance, and new industries. Among them, the new infrastructure sector covers industries such as consulting and design, engineering construction, service area operation, smart highways, and urban development; the new supply chain sector covers bulk commodity resource development, supply chain and processing manufacturing, logistics, and other industries; the new finance sector covers securities, property insurance, futures, financial leasing, asset management, funds, and other businesses; the new industry sector focuses on increasing investment in areas such as transportation new energy, electronic components, new materials, and transportation equipment, steadily fostering new quality productive forces. In 2025, the operational industries contributed 89% of operating revenue and 91% of total profit with 46% of the Group's total assets, strongly supporting the Group's sustainable development. In 2026, with the theme of "strengthening functions, increasing momentum, and improving efficiency," the main line of "deepening the implementation of the high-quality development strategy to achieve results," and the main focus on "deeply implementing the '5+1' work system," the Group will work hard and strive for excellence, making greater contributions to Zhejiang's role as a major economic province and a good start to the "15th Five-Year Plan" through steady progress and innovation.