The "Construction in China - Key Trends and Opportunities to 2024" report has been added to ResearchAndMarkets.com's offering.
China's construction industry to grow by 1.9% in 2020, and record an average annual growth of 4.7% between 2021-2024.
The industry's growth over the forecast period is expected to be driven by investments on new infrastructure projects, which includes investments in the areas of 5G networks, Artificial Intelligence, Internet of Things and data centers. According to the government-backed think tank, the China Electronic Information Industry Development (CCID), the country is expected to spend CNY10 trillion (US$1.4 trillion) on new infrastructure projects between 2020-2025. The industry's growth will also be driven by investments on transport, renewable energy and residential infrastructure projects
The outbreak of the Coronavirus (COVID-19) pandemic severely disrupted the country's construction industry in Q1 2020, with projects being temporarily suspended in line with the lockdown restrictions. Subsequently, the industry's value-add recorded a double-digit contraction in the first quarter of the year, according to the National Bureau of Statistics (NBS). With the gradual resumption of construction activities, the industry picked up pace, and recorded an improvement in the second quarter; however, it contracted by 1.9% year-on-year in H1 2020.
The Chinese construction industry is still expected to grow in 2020, despite the temporary slowdown in construction activities. However, there will only be a marginal expansion compared to the performance in recent years. China's construction industry value-add grew by 5.6% in real terms in 2019, following growth of 4.8% in the previous year, driven by strong growth in real estate investment, and an increase in fixed asset investments.
To mitigate the economic impact of the pandemic, the country fast-tracked the implementation of major infrastructure projects (except the hard-hit Hubei region), resuming 89.1% of major infrastructure projects as of mid-March 2020. In another positive development, real estate and fixed-asset investments have regained growth momentum, following temporary disruption in the first quarter of the year. Moreover, in the first seven months of the year, the National Development and Reform Commission (NDRC) approved 65 fixed-asset investment projects worth CNY532.8 billion (US$78.4 billion).
This report provides a comprehensive analysis of the construction industry in China. It provides -
Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in China, featuring details of key growth drivers.
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
Listings of major projects, in addition to details of leading contractors and consultants
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-glance
3.1. Economic Performance
3.2. Political Environment and Policy
3.4. COVID-19 Status
4 Construction Outlook
4.1. All Construction
4.1.2. Latest news and developments
4.1.3. Construction Projects Momentum Index
4.2. Commercial Construction
4.3. Industrial Construction
4.4. Infrastructure Construction
4.5. Energy and Utilities Construction
4.6. Institutional Construction
4.7. Residential Construction
5 Key Industry Participants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/r77j1f
View source version on businesswire.com: https://www.businesswire.com/news/home/20201020005660/en/
Laura Wood, Senior Press Manager
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