China National Machinery Industry Corporation (Sinomach), established in January 1997, is a state-owned backbone enterprise directly managed by the central government. Sinomach Group has 160,000 employees, over 40 wholly-owned or majority-owned subsidiaries, 12 listed companies and more than 200 overseas service agencies. Its primary businesses include: mechanical equipment, project contracting, trade and services, as well as finance and investment. Its service scope covers machinery, electric power, metallurgy, agriculture and forestry, transportation, construction, automobiles, ship building, light industry, electronics energy, environmental engineering, aeronautics and astronautics. The group has a market presence in over 170 countries and regions.