The largest construction and engineering enterprises in the world are massive state-owned conglomerates predominantly domiciled in China, meaning ultimate ownership rests with the Chinese government and sovereign asset management authorities. Corporations such as China State Construction Engineering Corporation, PowerChina, and the China Railway Group command hundreds of billions of dollars in annual revenues, executing monumental infrastructure, transportation, and urban development projects globally. Because these colossal enterprises are state-owned public undertakings, their equity is primarily held by national administrative bodies on behalf of the public state.