Construction in China Key Trends and Opportunities to 2018 Released On 2nd August 2014
Synopsis This “Construction in China Key Trends and Opportunities to 2018 ”report provides detailed market analysis, information and insights into the Chinese construction industry including: The Chinese construction industrys growth prospects by market, project type and type of construction activity Analysis of equipment, material and service costs across each project type within China Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Chinese construction industry Profiles of the leading operators in the Chinese construction industry. Data highlights of the largest construction projects in China
Executive summary The Chinese construction industry recorded a nominal CAGR of 19.99% during the review period (2009–2013). This growth was supported by public investments in infrastructure, residential and industrial construction. The participation of the private sector through public-private partnerships (PPPs) also helped to boost JSB Market Research Pvt. Ltd.
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construction activity in the country. Over the forecast period (2014–2018), the growth will be supported by the expanding economy and increased government spending on public infrastructure. The infrastructure and residential markets collectively accounted for 72.3% of the total construction industry in 2013, and are expected to grow over the forecast period due to increased public investment, urbanization and the strong demand for housing. The construction industry’s output is expected to record a CAGR of 9.72% over the forecast period.
Scope This report provides a comprehensive analysis of the construction industry in China. It provides Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in China using construction output and value-add methods Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services) Analysis of key construction industry issues, including regulation, cost management, funding and pricing Detailed profiles of the leading construction companies in China
Key highlights In nominal terms, the total construction value add in China reached CNY3.9 trillion (US$628.7 billion) in 2013, after registering a nominal CAGR of 17.67% during the review period. The value add for Chinese construction industry is projected to reach CNY6.1 trillion (US$942.3 billion) in 2018 and record a nominal CAGR of 9.36% over the forecast period, driven by increases in fixed assets investment. According to the latest data from the National Bureau of Statistics of China (NBSC), the investment in fixed assets increased by 20.3%, from CNY311.5 billion (US$48.2 billion) in 2011 to CNY374.7 billion (US$59.4 billion) in 2012. The residential construction market will be supported by government-led affordable housing projects. In 2013, 4.7 million housing units completed, and the construction of 6.3 million affordable housing units began. At the end of 2013, the JSB Market Research Pvt. Ltd.
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government announced plans to spend CNY115.8 billion (US$18.8 billion) to build affordable housing units in 2014. The plan includes subsidies for public rental departments, low-rent housing, and the renovation of shanty towns. The plan also aims to attract private investment to finance new projects. One of the most ambitious infrastructure-development projects is the China– Russia–Canada–America line. It includes a 13,000km rail line, starting from the north-east of China passing through Russia underneath the Pacific Ocean, and finally connecting the continental US via Alaska and Canada. The estimated budget and time taken for the construction of the high speed-rail network to the US have not been announced, and there is still some skepticism over whether the project will actually go ahead. To improve trade competitiveness and cope with the rising urban population, the government is focusing more on infrastructure development. Urban residents accounted for 53.7% of the total population in 2013 and this share is expected to increase to 60.0% by 2020. In its 2014 rail budget, China Railways Corp increased its budget from CNY700.0 billion (US$112.8 billion) in 2013 to CNY720.0 billion (US$116.0 billion) in 2014. It includes 48 new projects and the opening of 7,000km of new rail lines in 2014. There was strong demand in the residential construction market during the review period, as evident from the growth in housing sales during the period. According to the NBSC, the value of house sales in China increased by 11.0% in 2012 as compared to 2011 and increased further by 27.0% in 2013. The total sales value increased from CNY5.4 trillion (US$855.3 billion) in 2012 to CNY6.8 trillion (US$1.1 trillion) in 2013, before by 7.7% in the first quarter of 2014. The slowdown was largely influenced by the tight lending conditions by the government, with some banks halting all mortgage lending.
Reasons to buy Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies Assess market growth potential at a micro-level with over 600 time-series data forecasts Understand the latest industry and market trends JSB Market Research Pvt. Ltd.
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Formulate and validate business strategies using Timetrics critical and actionable insight Assess business risks, including cost, regulatory and competitive pressures Evaluate competitive risk and success factors
Table of Contents 1 Summary
2 Market Overview 2.1 Key Trends and Issues 2.2 Benchmarking by Market Size and Growth 3 Commercial Construction 3.1 Performance Outlook 3.2 Key Trends and Issues 3.3 Data and Project Highlights 4 Industrial Construction 4.1 Performance Outlook 4.2 Key Trends and Issues 4.3 Data and Project Highlights 5 Infrastructure Construction 5.1 Performance Outlook 5.2 Key Trends and Issues 5.3 Data and Project Highlights 6 Institutional Construction 6.1 Performance Outlook 6.2 Key Trends and Issues 6.3 Data and Project Highlights JSB Market Research Pvt. Ltd.
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7 Residential Construction 7.1 Performance Outlook 7.2 Key Trends and Issues 7.3 Data and Project Highlights 8 Company Profile: China State Construction Engineering Corporation Ltd 8.1 China State Construction Engineering Corporation Ltd – Company Overview 8.2 China State Construction Engineering Corporation Ltd – Business Description 8.3 China State Construction Engineering Corporation Ltd – Main Services 8.4 China State Construction Engineering Corporation Ltd – History 8.5 China State Construction Engineering Corporation Ltd – Company Information 8.5.1 China State Construction Engineering Corporation Ltd – key competitors 8.5.2 China State Construction Engineering Corporation Ltd – key employees 9 Company Profile: China Railway Construction Corporation Ltd 9.1 China Railway Construction Corporation Ltd – Company Overview 9.2 China Railway Construction Corporation Ltd – Business Description 9.3 China Railway Construction Corporation Ltd – Main Products and Services 9.4 China Railway Construction Corporation Ltd – History 9.5 China Railway Construction Corporation Ltd – Company Information 9.5.1 China Railway Construction Corporation Ltd – key competitors 9.5.2 China Railway Construction Corporation Ltd – key employees 10 Company Profile: CITIC Group Corporation 10.1 CITIC Group Corporation – Company Overview 10.2 CITIC Group Corporation – Business Description 10.3 CITIC Group Corporation – Main Products and Services 10.4 CITIC Group Corporation – History 10.5 CITIC Group Corporation – Company Information 10.5.1 CITIC Group Corporation – key competitors 10.5.2 CITIC Group Corporation – key employees JSB Market Research Pvt. Ltd.
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11 Company Profile: China Communications Construction Company Ltd 11.1 China Communications Construction Company Ltd – Company Overview 11.2 China Communications Construction Company Ltd – Business Description 11.3 China Communications Construction Company Ltd – Main Products and Services 11.4 China Communications Construction Company Ltd – History 11.5 China Communications Construction Company Ltd – Company Information 11.5.1 China Communications Construction Company Ltd – key competitors 11.5.2 China Communications Construction Company Ltd – key employees 12 Company Profile: China Railway Group Ltd 12.1 China Railway Group Ltd – Company Overview 12.2 China Railway Group Ltd – Business Description 12.3 China Railway Group Ltd – Main Services 12.4 China Railway Group Ltd – History 12.5 China Railway Group Ltd – Company Information 12.5.1 China Railway Group Ltd – key competitors 12.5.2 China Railway Group Ltd – key employees 13 Market Data Analysis 13.1 Construction Output and Value Add 13.1.1 Construction output by project type 13.1.2 Construction output by cost type 13.1.3 Construction output by activity type 13.1.4 Construction value add by project type 13.2 Commercial Construction 13.2.1 Commercial construction output by project type 13.2.2 Commercial construction output by cost type 13.2.3 Commercial construction output by activity type 13.2.4 Commercial construction value add by project type 13.3 Industrial Construction 13.3.1 Industrial construction output by project type 13.3.2 Industrial construction output by cost type JSB Market Research Pvt. Ltd.
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13.3.3 Industrial construction output by activity type 13.3.4 Industrial construction value add by project type 13.4 Infrastructure Construction 13.4.1 Infrastructure construction output by project type 13.4.2 Infrastructure construction output by cost type 13.4.3 Infrastructure construction output by activity type 13.4.4 Infrastructure construction value add by project type 13.5 Institutional Construction 13.5.1 Institutional construction output by project type 13.5.2 Institutional construction output by cost type 13.5.3 Institutional construction output by activity type 13.5.4 Institutional construction value add by project type 13.6 Residential Construction 13.6.1 Residential construction output by project type 13.6.2 Residential construction output by cost type 13.6.3 Residential construction output by activity type 13.6.4 Residential construction value add by project type 14 Appendix 14.1 What is this Report About? 14.2 Definitions 14.3 Summary Methodology 14.4 Methodology 14.5 Contact Timetric 14.6 About Timetric 14.7 Timetric’s Services 14.8 Disclaimer
List of Tables Table 1: Benchmarking with Other Major Construction Industries JSB Market Research Pvt. Ltd.
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Table 2: Commercial Construction Project 1 – YCTA – Yichang Three Gorges International Tourist Resort – Hubei Table 3: Commercial Construction Project 2 – DWG – Qingdao Film Studio – Shandong Table 4: Commercial Construction Project 3 – Ping An Life – Ping An International Finance Center – Guangdong Province Table 5: Industrial Construction Project 1 – DOW/SHGCL – Yulin Integrated Coalto-Chemicals Complex – Shaanxi Table 6: Industrial Construction Project 2 – SMG – Shenzhen Energy Auto Production Base – Guangdong Table 7: Industrial Construction Project 3 – Foxconn – Chengdu LCD Panels Production Base – Sichuan Table 8: Infrastructure Construction Project 1 – MoRC/MoRP – Kashgar-Gwadar Railway Line – Xinjiang Table 9: Infrastructure Construction Project 2 – MoR – Chizhou to Jiujiang Intercity Railway – Anhui Table 10: Infrastructure Construction Project 3 – HDOT/GDOT – Qiongzhou Strait Bridge – Hainan Table 11: Institutional Construction Project 1 – SMPG – China Expo Center – Shanghai Table 12: Institutional Construction Project 2 – JPGI – Mentougou International Hospital – Beijing Table 13: Institutional Construction Project 3 – Founder Group – Henan Medical Center – Henan Table 14: Residential Construction Project 1 – GUHL – Fuyang Residential Development – Zhejiang Table 15: Residential Construction Project 2 – KLC – Keppel Land Nantong Lakefront Residential Development – Jiangsu Table 16: Residential Construction Project 3 – SMBPLR – Affordable Housing Development – Shanghai Table 17: China State Construction Engineering Corporation Ltd, Key Facts Table 18: China State Construction Engineering Corporation Ltd, Main Services Table 19: China State Construction Engineering Corporation Ltd, History JSB Market Research Pvt. Ltd.
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Table 20: China State Construction Engineering Corporation Ltd, Key Employees Table 21: China Railway Construction Corporation Ltd, Key Facts Table 22: China Railway Construction Corporation Ltd, Main Products and Services Table 23: China Railway Construction Corporation Ltd, History Table 24: China Railway Construction Corporation Ltd, Key Employees Table 25: CITIC Group Corporation, Key Facts Table 26: CITIC Group Corporation, Main Products and Services Table 27: CITIC Group Corporation, History Table 28: CITIC Group Corporation, Key Employees Table 29: China Communications Construction Company Ltd, Key Facts Table 30: China Communications Construction Company Ltd, Main Products and Services Table 31: China Communications Construction Company Ltd – History Table 32: China Communications Construction Company Ltd, Key Employees Table 33: China Railway Group Ltd, Key Facts Table 34: China Railway Group Ltd, Main Services Table 35: China Railway Group Ltd – History Table 36: China Railway Group Ltd, Key Employees Table 37: Chinese Construction Output by Project Type (CNY Million), 2009–2013 Table 38: Chinese Construction Output by Project Type (CNY Million), 2013–2018 Table 39: Chinese Construction Output by Cost Type (CNY Million), 2009–2013 Table 40: Chinese Construction Output by Cost Type (CNY Million), 2013–2018 Table 41: Chinese Construction Output by Activity Type (CNY Million), 2009–2013 Table 42: Chinese Construction Output by Activity Type (CNY Million), 2013–2018 Table 43: Chinese Construction Value Add by Project Type (CNY Million), 2009– 2013 Table 44: Chinese Construction Value Add by Project Type (CNY Million), 2013– 2018 Table 45: Chinese Commercial Construction Output by Project Type (CNY Million), 2009–2013 Table 46: Chinese Commercial Construction Output by Project Type (CNY Million), 2013–2018 JSB Market Research Pvt. Ltd.
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Table 47: Chinese Commercial Construction Output by Cost Type (CNY Million), 2009–2013 Table 48: Chinese Commercial Construction Output by Cost Type (CNY Million), 2013–2018 Table 49: Chinese Commercial Construction Output by Activity Type (CNY Million), 2009–2013 Table 50: Chinese Commercial Construction Output by Activity Type (CNY Million), 2013–2018 Table 51: Chinese Commercial Construction Value Add by Project Type (CNY Million), 2009–2013 Table 52: Chinese Commercial Construction Value Add by Project Type (CNY Million), 2013–2018 Table 53: Chinese Industrial Construction Output by Project Type (CNY Million), 2009–2013 Table 54: Chinese Industrial Construction Output by Project Type (CNY Million), 2013–2018 Table 55: Chinese Industrial Construction Output by Cost Type (CNY Million), 2009–2013 Table 56: Chinese Industrial Construction Output by Cost Type (CNY Million), 2013–2018 Table 57: Chinese Industrial Construction Output by Activity Type (CNY Million), 2009–2013 Table 58: Chinese Industrial Construction Output by Activity Type (CNY Million), 2013–2018 Table 59: Chinese Industrial Construction Value Add by Project Type (CNY Million), 2009–2013 Table 60: Chinese Industrial Construction Value Add by Project Type (CNY Million), 2013–2018 Table 61: Chinese Infrastructure Construction Output by Project Type (CNY Million), 2009–2013 Table 62: Chinese Infrastructure Construction Output by Project Type (CNY Million), 2013–2018 JSB Market Research Pvt. Ltd.
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Table 63: Chinese Infrastructure Construction Output by Cost Type (CNY Million), 2009–2013 Table 64: Chinese Infrastructure Construction Output by Cost Type (CNY Million), 2013–2018 Table 65: Chinese Infrastructure Construction Output by Activity Type (CNY Million), 2009–2013 Table 66: Chinese Infrastructure Construction Output by Activity Type (CNY Million), 2013–2018 Table 67: Chinese Infrastructure Construction Value Add by Project Type (CNY Million), 2009–2013 Table 68: Chinese Infrastructure Construction Value Add by Project Type (CNY Million), 2013–2018 Table 69: Chinese Institutional Construction Output by Project Type (CNY Million), 2009–2013 Table 70: Chinese Institutional Construction Output by Project Type (CNY Million), 2013–2018 Table 71: Chinese Institutional Construction Output by Cost Type (CNY Million), 2009–2013 Table 72: Chinese Institutional Construction Output by Cost Type (CNY Million), 2013–2018 Table 73: Chinese Institutional Construction Output by Activity Type (CNY Million), 2009–2013 Table 74: Chinese Institutional Construction Output by Activity Type (CNY Million), 2013–2018 Table 75: Chinese Institutional Construction Value Add by Project Type (CNY Million), 2009–2013 Table 76: Chinese Institutional Construction Value Add by Project Type (CNY Million), 2013–2018 Table 77: Chinese Residential Construction Output by Project Type (CNY Million), 2009–2013 Table 78: Chinese Residential Construction Output by Proj
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Figure 1: Growth Matrix for Construction Output in China (%), 2009–2018 Figure 2: Benchmarking with Other Major Construction Industries Figure 3: Chinese Commercial Construction Output (US$ Million), 2009–2018 Figure 4: Chinese Industrial Construction Output (US$ Million), 2009–2018 Figure 5: Chinese Infrastructure Construction Output (US$ Million), 2009–2018 Figure 6: Chinese Institutional Construction Output (US$ Million), 2009–2018 Figure 7: Chinese Residential Construction Output (US$ Million), 2009–2018 Figure 8: Chinese Construction Output by Project Type (CNY Million), 2009–2018 Figure 9: Chinese Construction Output by Cost Type (CNY Million), 2009–2018 Figure 10: Chinese Construction Output by Activity Type (CNY Million), 2009– 2018 Figure 11: Chinese Construction Value Add by Project Type (CNY Million), 2009– 2018 Figure 12: Chinese Commercial Construction Output by Project Type (CNY Million), 2009–2018 Figure 13: Chinese Commercial Construction Output by Cost Type (CNY Million), 2009–2018 Figure 14: Chinese Commercial Construction Output by Activity Type (CNY Million), 2009–2018 Figure 15: Chinese Commercial Construction Value Add by Project Type (CNY Million), 2009–2018 Figure 16: Chinese Industrial Construction Output by Project Type (CNY Million), 2009–2018 Figure 17: Chinese Industrial Construction Output by Cost Type (CNY Million), 2009–2018 Figure 18: Chinese Industrial Construction Output by Activity Type (CNY Million), 2009–2018 Figure 19: Chinese Industrial Construction Value Add by Project Type (CNY Million), 2009–2018 Figure 20: Chinese Infrastructure Construction Output by Project Type (CNY Million), 2009–2018 JSB Market Research Pvt. Ltd.
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Figure 21: Chinese Infrastructure Construction Output by Cost Type (CNY Million), 2009–2018 Figure 22: Chinese Infrastructure Construction Output by Activity Type (CNY Million), 2009–2018 Figure 23: Chinese Infrastructure Construction Value Add by Project Type (CNY Million), 2009–2018 Figure 24: Chinese Institutional Construction Output by Project Type (CNY Million), 2009–2018 Figure 25: Chinese Institutional Construction Output by Cost Type (CNY Million), 2009–2018 Figure 26: Chinese Institutional Construction Output by Activity Type (CNY Million), 2009–2018 Figure 27: Chinese Institutional Construction Value Add by Project Type (CNY Million), 2009–2018 Figure 28: Chinese Residential Construction Output by Project Type (CNY Million), 2009–2018 Figure 29: Chinese Residential Construction Output by Cost Type (CNY Million), 2009–2018 Figure 30: Chinese Residential Construction Output by Activity Type (CNY Million), 2009–2018 Figure 31: Chinese Residential Construction Value Add by Project Type (CNY Million), 2009–2018
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