Construction giant sold to Chinese company

The sale of construction giant John Holland to Chinese interests has been approved by the federal government.

John Holland Group, a wholly owned subsidiary of Leighton Holdings, is one of Australia's largest engineering and construction companies with more than 65 years of history.

Treasurer Joe Hockey on Wednesday approved its sale to CCCC International Holding Limited, owned by the China Communications Construction Company, after seeking arrangements to mitigate concerns about CCCC's World Bank debarment in 2009.