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China’s Building Sector Resilient Despite President Xi’s New Economic Policy

LONDON, GREATER LONDON, UK, July 25, 2018 /EINPresswire.com/ -- The building sector in China is predicted to grow at 10.7% year on year Global Construction Market Strategies And Opportunities To 2021, a new report from The Business Research Company shows. This is despite President Xi’s call at the 2017 Communist Party Congress for the country to move from ‘a phase of rapid growth to a stage of high quality development’. Motivated by an intention of halting or reversing rising income inequalities, uneven regional development and immense environmental damage, the new emphasis may mean a slowdown in China's recent 6.9% economic growth rate. The building industry is likely to be relatively protected, however, as President Xi’s ‘high quality development’ is expected to include the provision of better homes for the 30 million Chinese who move to the towns each year.

China’s building sector was worth $3.2 trillion in 2017, having grown at 9.4% annually from 2013. Asia’s other two big markets for building construction are also expected to accelerate: from 6.1% to 8.3% in India and from 6.4% to 7.4% in Japan. In the USA, which has the next largest building market after China, worth $1.08 trillion in 2017, growth is set to remain steady at 9.7%,

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The Chinese market accounted for 37.7% of the global building sector total in 2016. The market’s global worth in 2016 was $7.7 trillion and it is growing at just under 10% year on year.

During 2013-2017 China's heavy and civil engineering sector had the second highest growth rate in the world, at 10.6%; this rapid growth was mainly due to strong economic growth, rapid urbanization, increasing government spending on infrastructure, development of new cities and increasing demand for utilities, roads, transportation and other infrastructure in the country. The growth was primarily fuelled by the stimulus investment package launched by the Chinese government at the end of 2008 as a response to the global economic crisis. About CNY 600 billion were invested in highways, CNY 600 billion in railways and CNY 300 billion in subways and airports. Although slowing a little recently, to 8.8%, growth in China's heavy and civil engineering segment will continue to be among the world's fastest. Major construction activities in China are shifting from first-tier cities such as Beijing and Shanghai to second-tier cities such as Chengdu and Chongquing. However, with the Chinese government resorting to adjustments in interest rates, regulation and fixed asset investments, the construction industry is expected to be largely dependent on central government’s future plans and policies.

Where To Learn More
Read the Global Construction Market Strategies And Opportunities To 2021 from The Business Research Company for information on the following:

Markets Covered: Global construction market, building construction, heavy and civil engineering construction, specialty construction contractors, land planning and development.
Construction Market Companies Covered: China State Construction Engineering Co., Ltd., China Railway Group Ltd., China Railway Construction Corporation Limited, China Communications Construction Group Ltd., Vinci SA, and Power Construction Corp. Of China, Bechtel Corporation*, Grupo ACS, Bouygues SA, Skanska Group.
Regions: North America, Asia Pacific, Western Europe, South America, Eastern Europe, Middle East, Africa.
Countries: USA, China, UK, Japan, France, Germany, Australia, India, Spain, Russia, Italy, Brazil
Time Series: Five years historic (2013-17) and forecast (2017-21).
Data Segmentations: Construction Market historic and forecast size and growth rates for the world, 7 regions and 12 countries, construction market segmentation by type of construction (building construction, heavy and civil engineering construction, specialty construction contractors, land planning and development) market shares, subsegment shares, historic and forecast size and growth rates for the world, 7 regions and 12 countries, global competitor sales and market shares.
Other Data: Per capita average construction market expenditure, global and by country, construction market comparison with industry metrics across countries, construction market size as a percentage of GDP, global and by country; construction market customer information, global number of construction market enterprises for 2017, average construction market revenue per enterprise for 2017, global number of employees in the construction market, and average revenues per employee in the construction market for 2017- by country
Other Information: Drivers and restraints of the construction market, PESTEL analysis, construction market customer information, company profiles including products, strategy and financial performance for 5 construction market companies, highest valued construction projects, construction market survey information, construction market trends and strategies, construction market key mergers and acquisitions
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes. Sources include primary as well as extensive secondary research.
Number of figures in the report: 167
Number of tables in the report: 166

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About The Business Research Company
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.

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The Business Research Company
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