Construction Outlook in China

Jul 31, 2012, 08:00 ET from Reportlinker

NEW YORK, July 31, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Construction Outlook in China

http://www.reportlinker.com/p0701124/Construction-Outlook-in-China.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Building_and_Engineering

Expenditures to increase 8.8% yearly through 2016

Construction expenditures in China will rise 8.8 percent per annum in real terms through 2016. Although growth will decelerate from the rapid 2006-2011 pace, the country will continue to out-perform other major national construction markets. Ongoing urbanization and industrialization, rebounding foreign investment funding, rising personal income levels, and further population and household growth will all work to drive gains. However, further growth will be prevented by a slowdown in the Chinese economy through the forecast period, especially in fixed asset investment.

Nonbuilding sector to remain fastest growing

Construction expenditures in China are about equally split among the residential building, nonresidential building, and nonbuilding construction segments, each of which accounted for around one-third of construction spending in 2011. Nonbuilding construction will be the fastest growing segment through 2016. Growth will benefit from state-led efforts to raise and upgrade the country's transportation infrastructure, which includes a national high-speed railway and the "7918 Network" national highway system. Residential building construction will advance at an 8.5% annual rate through 2016, primarily fueled by rising personal income levels, household growth, and continuing urbanization. Government efforts to improve living conditions for low-income earners (including the construction of affordable, low-rent houses in urban areas and subsidies for alterations of dilapidated farmhouses in rural areas) will also help spur gains in residential building construction spending. Nonresidential building construction expenditures will post the slowest gains in real terms through 2016. Advances will be driven by robust gains in consumer spending -- both in China and abroad -- for Chinese manufactured goods and services. These increases will spur domestic and foreign direct investment in plants, commercial buildings, warehouses, and shopping complexes.

Northwest region to lead market gains

Although China is a single country, it consists of numerous distinct regional markets characterized by different climates, populations, and levels of economic development. Construction expenditures in the Northwest region are expected to register the fastest gains of any region in China, benefiting from the government's "Great Western Development" strategy, which will result in sizable increases in spending on infrastructure and manufacturing facilities in this area. However, the Central-East will remain home to about 30 percent of the country's total population and 37 percent of its economic output, supporting a vast construction market that will account for 42 percent of overall spending on construction in China in 2016. Gains in the Central-East will be led primarily by growth in residential building construction, benefiting from the high personal income levels in the region.

TABLE OF CONTENTS

INTRODUCTION ix

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4

Economic Overview 5

Recent Economic Performance 5

Economic Outlook 7

Demographic Overview 11

Population 12

Urbanization 14

Households 15

Industrialization & Manufacturing Trends 17

Gross Fixed Capital Formation Trends 20

Labor Force & Employment Patterns 21

Personal Income Trends 25

Banking System & Regulations 28

Currency Exchange Rates 32

Inflation & Pricing Patterns 35

Legal & Regulatory Environment 38

Construction Technology & Quality 42

The Twelfth Five-Year Plan 44

III. OVERVIEW 47

General 47

Construction Expenditures by Type 47

Construction Expenditures by Market 50

International Environment 53

Construction Expenditures for Selected Countries 54

Foreign Participation in China's Construction Industry 55

IV. RESIDENTIAL BUILDING 58

General 58

New Housing Construction Expenditures 62

New Housing Completions 65

Single Family 68

Multiple Family 70

Additions & Alterations 71

Maintenance & Repairs 73

Housing Stock 75

Single Family 78

Multiple Family 80

Ownership 82

Living Space 83

Urban 86

Rural 87

V. NONRESIDENTIAL BUILDING 88

General 88

New Construction 92

Additions & Alterations 93

Maintenance & Repairs 93

Structure Types 94

Industrial 96

Office & Commercial 98

Institutional 99

Other 100

Nonresidential Building Stock 101

VI. NONBUILDING CONSTRUCTION 103

General 103

New Construction 106

Maintenance & Repairs 108

Structure Types 108

Roads & Other Transportation Infrastructure 110

Utilities 113

Other 114

VII. REGIONAL TRENDS 116

General 116

Regional Demographic & Economic Trends 118

Population Patterns 119

Economic Outlook 121

Regional Construction Expenditures 123

Central-North 125

Overview 125

Construction Expenditures 127

Northeast 129

Overview 129

Construction Expenditures 132

Central-East 133

Overview 133

Construction Expenditures 135

Central-South 137

Overview 137

Construction Expenditures 139

Southwest 141

Overview 141

Construction Expenditures 143

Northwest 145

Overview 145

Construction Expenditures 147

VIII. INDUSTRY STRUCTURE 150

General 150

Industry Composition 151

Market Share 155

Marketing 158

Financial Issues & Requirements 160

Capital Expenditures 161

Project Funding 163

State 163

Private Domestic 164

Foreign Investment 164

Company Profiles 165

Anhui Construction Engineering Group Company Limited 166

Balfour Beatty plc 168

Bechtel Group Incorporated 170

Beijing Construction Engineering Group Company

Limited 172

Beijing MCC Equipment Research & Design, see

Metallurgical Corporation of China

Beijing Urban Construction Group Company Limited 174

Black & Veatch Holding Company 176

Bouygues SA 177

China Communications Construction Company Limited 179

China Gezhouba Group Company Limited 182

China Harbour Engineering, see China Communications

Construction

China National Chemical Engineering Company Limited 184

China National Machinery Industry Corporation 186

China Railway Construction Corporation Limited 187

China Railway Group Limited 189

China Road and Bridge, see China Communications

Construction

China State Construction Engineering Corporation 192

China Tianchen Engineering, see China National

Chemical Engineering

Chiyoda Corporation 195

CISDI Engineering, see Metallurgical Corporation

of China

CTCI Corporation 197

Dongfang Electric Corporation 199

E&C Engineering, see CTCI

Fluor Corporation 201

Foster Wheeler AG 203

Fujian Construction Engineering Group Company 205

Gammon Construction, see Balfour Beatty

Guangdong Construction Engineering Group Corporation

Limited 207

Guangsha Construction Group Company Limited 208

Hebei Construction Group Company Limited 209

Hip Hing Construction, see NWS Holdings

HOCHTIEF AG 211

Hunan Construction Engineering Group Corporation 213

Jacobs Engineering Group Incorporated 214

Jiangsu Suzhong Construction Group Company Limited 215

Jingding Engineering & Construction, see CTCI

Leighton Holdings, see HOCHTIEF

Lend Lease Corporation Limited 217

Metallurgical Corporation of China Limited 219

NWS Holdings Limited 222

Qingjian Group Company Limited 224

Shaanxi Construction Engineering Group Corporation 225

Shang Ding Engineering & Construction, see CTCI

Shanghai Construction Group General Company 227

Shanghai Urban Construction Group Corporation 229

Sichuan Huashi Group Corporation Limited 230

Sinohydro Group Limited 232

URS Corporation 234

WISDRI Engineering & Research Incorporation, see

Metallurgical Corporation of China

Zhejiang Construction Investment Group Company

Limited 236

Other Companies Mentioned in Study 238

LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 Gross Domestic Product of China 11

2 Population of China 13

3 Households in China by Region 16

4 Manufacturing Value Added in China 19

5 Gross Fixed Capital Formation in China by Region 21

6 Employment Trends in China, 2001-2011 24

7 Per Capita Gross Domestic Product in China by Region 27

8 Interest Rates in China, 2001-2011 32

9 Chinese Currency Exchange Rates, 2001-2011 34

10 Construction Pricing Deflators in China 37

SECTION III -- OVERVIEW

1 Construction Expenditures in China by Type 49

2 Construction Expenditures in China by Market 52

3 Construction Expenditures for Selected Countries, 2001-2011 55

4 Foreign Participation in China's Construction Industry 57

SECTION IV -- RESIDENTIAL BUILDING

1 Residential Building Construction Expenditures in China

by Type 62

2 New Housing Construction Expenditures in China 64

3 New Housing Completions in China 67

4 Residential Building Addition & Alteration Expenditures

in China 73

5 Residential Building Maintenance & Repair Expenditures

in China 75

6 Housing Stock in China by Type & Ownership 77

7 Average Living Space in China 85

SECTION V -- NONRESIDENTIAL BUILDING

1 Nonresidential Building Construction Expenditures in China

by Type 91

2 Nonresidential Building Construction Expenditures in China

by Structure 95

3 Nonresidential Building Stock in China 102

SECTION VI -- NONBUILDING CONSTRUCTION

1 Nonbuilding Construction Expenditures in China by Type 106

2 Nonbuilding Construction Expenditures in China by Structure 109

3 Paved Roads in China by Region 112

SECTION VII -- REGIONAL TRENDS

1 Population of China by Region 120

2 Gross Domestic Product of China by Region 122

3 Construction Expenditures in China by Region 124

4 Central-North Region of China: Construction Expenditures 129

5 Northeast Region of China: Construction Expenditures 133

6 Central-East Region of China: Construction Expenditures 137

7 Central-South Region of China: Construction Expenditures 141

8 Southwest Region of China: Construction Expenditures 145

9 Northwest Region of China: Construction Expenditures 149

SECTION VIII -- INDUSTRY STRUCTURE

1 Revenue Data: Selected Construction Companies, 2011 154

LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT

1 Population of China by Age, 2001-2021 14

2 Households in China by Region, 2001-2021 17

3 Employment Trends in China, 2001-2011 25

4 Per Capita Gross Domestic Product in China by Region, 2011 28

5 Chinese Currency Exchange Rates, 2001-2011 35

SECTION III -- OVERVIEW

1 Construction Expenditures in China by Type, 2011 50

2 Construction Expenditures in China by Market, 2001-2021 53

SECTION IV -- RESIDENTIAL BUILDING

1 New Housing Construction Expenditures in China, 2001-2021 65

2 New Housing Completions in China, 2001-2021 68

3 Housing Stock in China by Type, 2001-2021 78

4 Average Living Space in China, 2001-2021 85

SECTION V -- NONRESIDENTIAL BUILDING

1 Nonresidential Building Construction Expenditures in China

by Structure, 2011 96

SECTION VI -- NONBUILDING CONSTRUCTION

1 Nonbuilding Construction Expenditures in China

by Structure, 2011 110

2 Total & Paved Roads in China, 2001-2021 112

SECTION VII -- REGIONAL TRENDS

1 Gross Domestic Product of China by Region, 2011 122

2 Construction Expenditures in China by Region, 2011 125

3 Central-North Region of China 127

4 Northeast Region of China 131

5 Central-East Region of China 135

6 Central-South Region of China 139

7 Southwest Region of China 143

8 Northwest Region of China 147

SECTION VIII -- INDUSTRY STRUCTURE

1 Construction Market Share in China by Company, 2011 155

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