China Railway Group Limited (CREC), a world-leading construction conglomerate, signed $12 billion in overseas contracts last year, the company announced in Hong Kong this Thursday.

The company created new performance records last year, with its net margin increasing by 22.8 percent from the year before, it said.

According to CREC chairman Li Changjin, the company is currently supervising 65 overseas infrastructure projects. Given the uncontrollable factors of overseas projects, the company has set its annual target value of overseas contracts at $15 billion in 2019, Li said.

In 2018, company revenue stood at 740.4 billion yuan ($110.3 billion), up 7.5 percent.

By promoting global resource allocation, the CREC is improving the interconnectivity of the world.