Construction expenditures in China to increase 9.2 percent annually through 2012
A rapidly expanding domestic economy, continuing efforts to
upgrade physical infrastructure, sustained strength in foreign investment funding,
healthy demand for Chinese manufactured goods, ongoing urbanization, and further
population and household growth will all boost construction spending in China. These
and other trends are presented in Construction Outlook in China, a new study from
The Freedonia Group, Inc., a Cleveland-based industry research firm.
Nonbuilding construction will be the fastest growing sector, advancing 10.2 percent annually in real terms through 2012, according to the report. Growth will be fueled by government initiatives to expand and upgrade the country's infrastructure, highways, railways and subway systems. Utilities construction also will contribute to nonbuilding construction spending gains.
Nonresidential building accounted for the largest share of construction spending in China in 2007, according to the report.