BEPC II is a two-ring e+e- collider running in the tau-charm energy region (Ecm = 2.0-4.2 GeV), which, with a design luminosity of 1 × 1033 cm-2s-1 at the beam energy of 1.89 GeV, is an improvement of a factor of 100 over its successful predecessor, BEPC. The upgrade will use the existing tunnel, some major infrastructure items, and some of the old magnets. The 202 m long linac of the new machine can accelerate electrons and positrons up to 1.89 GeV with a positron injection rate of 50 mA/min. Its installation was completed in the summer of 2005 and it has reached most of the design specifications. The collider consists of two 237.5 m long storage rings, one for electrons and one for positrons. They collide at the interaction point with a horizontal crossing angle of 11 mrad and a bunch spacing of 8 ns. Each ring holds 93 bunches with a beam current of 910 mA. The machine will also provide a high flux of synchrotron radiation at a beam energy of 2.5 GeV. The manufacture of major equipment such as magnets, superconducting RF cavities (with the co-operation of the Japanese high-energy physics laboratory, KEK, and the company MELCO) and quadrupole magnets (with the co-operation of the Brookhaven National Laboratory), as well as the cryogenics system, have been completed, and their installation is under way. The pre-alignment of magnets has made good progress.