China Ocean Engineering Co., Ltd., formerly known as China Ocean Engineering Corporation and China Ocean Engineering Service Co., Ltd. (hereinafter referred to as the company), was approved by the State Council and registered with the State Administration for Industry and Commerce in June 1981. In 1994, the Ministry of communications put the company under the management of the Salvage Bureau of the Ministry of communications, and the company is still a first-class enterprise under the Ministry. As one of the important foreign business units of China's rescue and salvage system, in 2016, the company completed the joint-stock transformation under the guidance and assistance of the rescue and Salvage Bureau of the Ministry of finance, and changed from an enterprise owned by the whole people to a limited liability company.