Construction in China – Key Trends and Opportunities to 2017

Published: April 2013
No. of Pages: 81
  

Synopsis

This report provides detailed market analysis, information and insights into the Chinese construction market, including:

  • The Chinese construction market’s growth prospects by sector, 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 market
  • Assessment of the competitive forces facing the construction industry in China and profiles of the leading players
  • Data highlights of the largest construction projects in China

Summary

China’s overall construction industry will continue to expand in the next five years, but the pace of growth will slow. The construction industry valued at CNY13.5 trillion (US$2.1 trillion) in 2012, recording a CAGR of 21.5% during the review period, but it is expected to grow at a CAGR of 12.4% over the forecast period. In the short term there could be some weaknesses due to the government’s stringent property market curbs. The government published new rules in March 2013 amid growing speculation of further price rises. According to the new rules, homeowners selling their homes will receive an income tax of 20% on capital gains. The rules could discourage market speculation and also home sales in the short term.

Scope

This report provides a comprehensive analysis of the construction industry in China:

  • Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in China using the 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
  • Assessment of the competitive environment using Porter’s Five Forces
  • Detailed profiles of the leading construction companies in China

Reasons To Buy

  • Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
  • Assess market growth potential at a micro-level via 600+ time series data forecasts
  • Understand the latest industry and market trends
  • Formulate and validate business strategies by leveraging our critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Key Highlights

  • Economic growth is expected to be more balanced in 2014–2015, due to an expected recovery in external demand and strengthening household consumption. Underlying this forecast, is the assumption that the global economy strengthens and the government’s policy measures to boost consumption gain traction.
  • Inflation is expected to pick up in line with a faster pace of economic growth. Aggregate financing of the economy reached an all-time high of CNY2.54 trillion in January 2013. Abundant food supply is expected to help contain consumer price inflation, and the government will intervene should consumer prices rise too fast. Average inflation for 2013 is expected to rise to 3.4%, marginally below the newly announced official target of 3.5%.
  • Prospects for the construction sector are bright over the forecast period, with annual growth set to average above 10% until 2016. This is due to the country’s immense need for greater housing supply and better infrastructure networks to cater for rapid, large scale urbanization. 10 million workers migrate from rural areas to urban centers every year.
  • Infrastructure construction is expected to record strong growth, as investment in railway construction has resumed its rapid pace after a temporary moderation following a major incident in 2011. The government is expected to encourage infrastructure investment; it is likely that export growth will remain subdued and restrictions on the residential property market will continue.
  • There are some risks in construction. The government’s unwavering stance on the continuation of property market restrictions, which is essential for the market’s long-term sustainable growth, may discourage home sales and thus the pace of property development. Given the huge stock of on-going projects (430,000 hectares) and an excess in newly started projects (130,000 hectares) relative to home sales (98,470 hectares) in 2012, new project commencement is expected to be at a more moderate pace in 2013.

Construction in China – Key Trends and Opportunities to 2017

1 Executive Summary
2 Market Overview
2.1 The Domestic Economy
2.2 Key Trends and Issues
2.3 Key Construction Indicators
2.4 Benchmarking by Market Size and Growth
2.5 Price Dynamics
2.5.1 Salaries
2.5.2 Equipment
2.5.3 Materials
2.5.4 Energy
2.6 Porters Five Forces Analysis of China’s Construction Industry
2.6.1 Bargaining power of suppliers – low
2.6.2 Bargaining power of buyers – high
2.6.3 Barriers to entry – medium to high
2.6.4 Intensity of rivalry – high
2.6.5 Threat of substitution – low
2.7 Demographic Profile
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Issues
3.3 Data and Projects Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Issues
4.3 Data and Projects Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Issues
5.3 Data and Projects Highlights
6 Institutional Construction
6.1 Performance Outlook
6.2 Key Issues
6.3 Data and Projects Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Issues
7.3 Data and Projects 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
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: Sinohydro Corporation
12.1 Sinohydro Corporation – Company Overview
12.2 Sinohydro Corporation – Business Description
12.3 Sinohydro Corporation – Main Products and Services
12.4 Sinohydro Corporation – History
12.5 Sinohydro Corporation – Company Information
12.5.1 Sinohydro Corporation – key competitors
12.5.2 Sinohydro Corporation – 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
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
14.7.1 Core capabilities
14.8 Disclaimer

List of Tables

Table 1: Project 1 – Luohu District International Commercial Center – Guangdong
Table 2: Project 2 – Yichang Three Gorges International Tourist Resort – Hubei
Table 3: Project 3 – Ping An International Finance Center – Guangdong
Table 4: Project 1 – DOW/SHGCL – Yulin Integrated Coal-to-Chemicals Complex – Shaanxi Province
Table 5: Project 2 – FAW – Tianjin Car Assembly Plant – China
Table 6: Project 3 – CISC/POSCO – Chongqing Iron & Steel Manufacturing Plant – Chongqing
Table 7: Project 1 – CGNPC – Yangjiang Nuclear Power Station – Guangdong
Table 8: Project 2 – HPCB – Yiba Highway – Hubei
Table 9: Project 3 – DPA – Dandong Port Expansion – Liaoning
Table 10: Project 1 – SMPG – China Expo Center – Shanghai
Table 11: Project 2 – ZTE – Yuhuatai R&D Center – Nanjing
Table 12: Project 3 – MoZ – Zhanjiang People's Hospital – Guangdong
Table 13: Project 1 – SSTEC – Tianjin Eco-City: Residential Development – Tianjin
Table 14: Project 2 – GUHL – Fuyang Residential Development – Zhejiang
Table 15: Project 3 – Longfor – Changzhou Villa – Jiangsu province
Table 16: China State Construction Engineering Corporation Ltd, Key Facts
Table 17: China State Construction Engineering Corporation Ltd, Main Services
Table 18: China State Construction Engineering Corporation Ltd, History
Table 19: China State Construction Engineering Corporation Ltd, Key Employees
Table 20: China Railway Construction Corporation Ltd, Key Facts
Table 21: China Railway Construction Corporation Ltd, Main Products and Services
Table 22: China Railway Construction Corporation Ltd, History
Table 23: China Railway Construction Corporation Ltd, Key Employees
Table 24: CITIC Group Corporation, Key Facts
Table 25: CITIC Group Corporation, Main Products and Services
Table 26: CITIC Group Corporation, History
Table 27: CITIC Group Corporation, Key Employees
Table 28: China Communications Construction Company Ltd, Key Facts
Table 29: China Communications Construction Company Ltd, Main Products and Services
Table 30: China Communications Construction Company Ltd, History
Table 31: China Communications Construction Company Ltd, Key Employees
Table 32: Sinohydro Corporation, Key Facts
Table 33: Sinohydro Corporation, Main Products and Services
Table 34: Sinohydro Corporation, History
Table 35: Sinohydro Corporation, Key Employees
Table 36: Chinese Construction Output by Project Type (CNY Million), 2008–2012
Table 37: Chinese Commercial Construction Output by Project Type (CNY Million), 2012–2017
Table 38: Chinese Construction Output by Cost Type (CNY Million), 2008–2012
Table 39: Chinese Construction Output by Cost Type (CNY Million), 2012–2017
Table 40: Chinese Construction Output by Activity Type (CNY Million), 2008–2012
Table 41: Chinese Construction Output by Activity Type (CNY Million), 2012–2017
Table 42: Chinese Construction Value Add by Project Type (CNY Million), 2008–2012
Table 43: Chinese Construction Value Add by Project Type (CNY Million), 2012–2017
Table 44: Chinese Commercial Construction Output by Project Type (CNY Million), 2008–2012
Table 45: Chinese Commercial Construction Output by Project Type (CNY Million), 2012–2017
Table 46: Chinese Commercial Construction Output by Cost Type (CNY Millions), 2008–2012
Table 47: Chinese Commercial Construction Output by Cost Type (CNY Millions), 2012–2017
Table 48: Chinese Commercial Construction Output by Activity Type (CNY Millions), 2008–2012
Table 49: Chinese Commercial Construction Output by Activity Type (CNY Millions), 2012–2017
Table 50: Chinese Commercial Construction Value Add by Project Type (CNY Millions), 2008–2012
Table 51: Chinese Commercial Construction Value Add by Project Type (CNY Millions), 2012–2017
Table 52: Chinese Industrial Construction Output by Project Type (CNY Million), 2008–2012
Table 53: Chinese Industrial Construction Output by Project Type (CNY Million), 2012–2017
Table 54: Chinese Industrial Construction Output by Cost Type (CNY Millions), 2008–2012
Table 55: Chinese Industrial Construction Output by Cost Type (CNY Millions), 2012–2017
Table 56: Chinese Industrial Construction Output by Activity Type (CNY Millions), 2008–2012
Table 57: Chinese Industrial Construction Output by Activity Type (CNY Millions), 2012–2017
Table 58: Chinese Industrial Construction Value Add by Project Type (CNY Millions), 2008–2012
Table 59: Chinese Industrial Construction Value Add by Project Type (CNY Millions), 2012–2017
Table 60: Chinese Infrastructure Construction Output by Project Type (CNY Million), 2008–2012
Table 61: Chinese Infrastructure Construction Output by Project Type (CNY Million), 2012–2017
Table 62: Chinese Infrastructure Construction Output by Cost Type (CNY Millions), 2008–2012
Table 63: Chinese Infrastructure Construction Output by Cost Type (CNY Millions), 2012–2017
Table 64: Chinese Infrastructure Construction Output by Activity Type (CNY Millions), 2008–2012
Table 65: Chinese Infrastructure Construction Output by Activity Type (CNY Millions), 2012–2017
Table 66: Chinese Infrastructure Construction Value Add by Project Type (CNY Millions), 2008–2012
Table 67: Chinese Infrastructure Construction Value Add by Project Type (CNY Millions), 2012–2017
Table 68: Chinese Institutional Construction Output by Project Type (CNY Million), 2008–2012
Table 69: Chinese Institutional Construction Output by Project Type (CNY Million), 2012–2017
Table 70: Chinese Institutional Construction Output by Cost Type (CNY Millions), 2008–2012
Table 71: Chinese Institutional Construction Output by Cost Type (CNY Millions), 2012–2017
Table 72: Chinese Institutional Construction Output by Activity Type (CNY Millions), 2008–2012
Table 73: Chinese Institutional Construction Output by Activity Type (CNY Millions), 2012–2017
Table 74: Chinese Institutional Construction Value Add by Project Type (CNY Millions), 2008–2012
Table 75: Chinese Institutional Construction Value Add by Project Type (CNY Millions), 2012–2017
Table 76: Chinese Residential Construction Output by Project Type (CNY Million), 2008–2012
Table 77: Chinese Residential Construction Output by Project Type (CNY Million), 2012–2017
Table 78: Chinese Residential Construction Output by Cost Type (CNY Millions), 2008–2012
Table 79: Chinese Residential Construction Output by Cost Type (CNY Millions), 2012–2017
Table 80: Chinese Residential Construction Output by Activity Type (CNY Millions), 2008–2012
Table 81: Chinese Residential Construction Output by Activity Type (CNY Millions), 2012–2017
Table 82: Chinese Residential Construction Value Add by Project Type (CNY Millions), 2008–2012
Table 83: Chinese Residential Construction Value Add by Project Type (CNY Millions), 2012–2017
Table 84: Timetric Construction Market Definitions

List of Figures

Figure 1: Growth Matrix for Construction Output in China
Figure 2: Chinese Economic Outlook
Figure 3: Chinese Property Prices – Existing Residential Buildings
Figure 4: Chinese Investment in Real Estate Development [% annual]
Figure 5: Chinese Construction Materials Output [% annual]
Figure 6: Chinese Floor Space Completed and Under Construction (10,000 Sq meters, year-to-date)
Figure 7: Chinese Construction Output (CNY100 Million, year-to-date)
Figure 8: Benchmarking With Other Major Markets
Figure 9: Chinese Population
Figure 10: Chinese Commercial Construction Output (US$ Millions)
Figure 11: Chinese Industrial Construction Output (US$ Millions)
Figure 12: Chinese Infrastructure Construction Output (US$ Millions)
Figure 13: Chinese Institutional Construction Output (US$ Millions)
Figure 14: Chinese Residential Construction Output (US$ Millions)
Figure 15: Chinese Construction Output by Project Type (CNY Million) 2008–2017
Figure 16: Chinese Construction Output by Cost Type (CNY Million) 2008–2017
Figure 17: Chinese Construction Output by Activity Type (CNY Million) 2008–2017
Figure 18: Chinese Construction Value Add by Project Type (CNY Million) 2008–2017
Figure 19: Chinese Commercial Construction Output by Project Type (IDR Million) 2008–2017
Figure 20: Chinese Commercial Construction Output by Cost Type (CNY Millions) 2008–2017
Figure 21: Chinese Commercial Construction Output by Activity Type (CNY Millions) 2008–2017
Figure 22: Chinese Commercial Construction Value Add by Project Type (CNY Millions) 2008–2017
Figure 23: Chinese Industrial Construction Output by Project Type (CNY Million) 2008–2017
Figure 24: Chinese Industrial Construction Output by Cost Type (CNY Millions) 2008–2017
Figure 25: Chinese Industrial Construction Output by Activity Type (CNY Millions) 2008–2017
Figure 26: Chinese Industrial Construction Value Add by Project Type (CNY Millions) 2008–2017
Figure 27: Chinese Infrastructure Construction Output by Project Type (CNY Million) 2008–2017
Figure 28: Chinese Infrastructure Construction Output by Cost Type (CNY Millions) 2008–2017
Figure 29: Chinese Infrastructure Construction Output by Activity Type (CNY Millions) 2008–2017
Figure 30: Chinese Infrastructure Construction Value Add by Project Type (CNY Millions) 2008–2017
Figure 31: Chinese Institutional Construction Output by Project Type (CNY Million) 2008–2017
Figure 32: Chinese Institutional Construction Output by Cost Type (CNY Millions) 2008–2017
Figure 33: Chinese Institutional Construction Output by Activity Type (CNY Millions) 2008–2017
Figure 34: Chinese Institutional Construction Value Add by Project Type (CNY Millions) 2008–2017
Figure 35: Chinese Residential Construction Output by Project Type (CNY Million) 2008–2017
Figure 36: Chinese Residential Construction Output by Cost Type (CNY Millions) 2008–2017
Figure 37: Chinese Residential Construction Output by Activity Type (CNY Millions) 2008–2017
Figure 38: Chinese Residential Construction Value Add by Project Type (CNY Millions) 2008–2017

Published By: Timetric
Product Code: Timetric605


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