In 2020, the average production value of a worker in the construction sector in China amounted to around 423 thousand yuan, an increase of over 200 thousand yuan since 2010. In China, labor productivity had increased significantly over the past decades.
Labor productivity
Labor productivity describes the value a worker creates in a defined period. The output value hinges upon three factors: physical capital, new technology, and human capital. An increase in any of these three factors would increase a country’s labor productivity. An example of the new technology factor would be enhanced productivity as a result of utilizing artificial intelligence.
Building more, faster
The construction industry is very labor-intensive. Therefore, the employment of machinery and modern construction techniques greatly enhances productivity. As China developed, it had more resources to purchase and build machinery. In addition to that, Chinese enterprises purchase foreign companies to gain access to new construction technology. In 2016, a heavy equipment manufacturer from Changsha took over the German concrete company Putzmeister, a world leader in concrete pump manufacturing.
Labor productivity* in the construction sector in China between 2010 and 2020
(in yuan per person)
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National Bureau of Statistics of China. (October 9, 2021). Labor productivity* in the construction sector in China between 2010 and 2020 (in yuan per person) [Graph]. In Statista. Retrieved August 18, 2022, from https://www.statista.com/statistics/225966/labor-productivity-in-the-construction-sector-in-china/
National Bureau of Statistics of China. "Labor productivity* in the construction sector in China between 2010 and 2020 (in yuan per person)." Chart. October 9, 2021. Statista. Accessed August 18, 2022. https://www.statista.com/statistics/225966/labor-productivity-in-the-construction-sector-in-china/
National Bureau of Statistics of China. (2021). Labor productivity* in the construction sector in China between 2010 and 2020 (in yuan per person). Statista. Statista Inc.. Accessed: August 18, 2022. https://www.statista.com/statistics/225966/labor-productivity-in-the-construction-sector-in-china/
National Bureau of Statistics of China. "Labor Productivity* in The Construction Sector in China between 2010 and 2020 (in Yuan per Person)." Statista, Statista Inc., 9 Oct 2021, https://www.statista.com/statistics/225966/labor-productivity-in-the-construction-sector-in-china/
National Bureau of Statistics of China, Labor productivity* in the construction sector in China between 2010 and 2020 (in yuan per person) Statista, https://www.statista.com/statistics/225966/labor-productivity-in-the-construction-sector-in-china/ (last visited August 18, 2022)