January 21, 2013, Xinjiang West Construction Co,. Ltd.'s (002302.SZ) issuance of shares to China State Construction Engineering Corporation Limited (601668.SH)(CSCEC) and its affiliated engineering firms for purchasing assets and raising supporting funds was unconditionally approved by Merger and Acquisition Committee in China Securities Regulatory Commission (CSRC).

Xinjiang West Construction, primarily engaged in manufacturing and selling commercial concrete, is a listed company controlled by China State Construction Engineering. The parent company will inject its domestic concrete assets into Xinjiang West Construction, on the completion of which, Xinjiang West Construction will become the largest concrete production enterprise in China. The transaction value of the assets involved in the acquisition will be CNY 2,281,682,200. Xinjiang West Construction was also approved to raise supporting funds no more than 25% of the transaction value by private placement.

Jingtian & Gongcheng acted as the counsel for the reorganization.