Value added in the Chinese construction industry 2008-2019

This statistic shows the added value in the Chinese construction industry from 2008 to 2019. In 2019, the construction industry in China generated an added value of approximately 7.09 trillion yuan.

China's leadership in global construction market

With total construction spending amounting to 1.78 trillion U.S. dollars in 2013, China was by far the largest construction market worldwide. The world’s five largest construction companies in 2018 were all from China. The largest construction company in the world, the China State Construction Engineering Corporation (CSCEC), had generated revenues of approximately 1.2 billion yuan in 2018.

How important is construction in China?

The success of China’s construction industry is closely linked to domestic urbanization efforts and economic development. Thus, it is not surprising that eastern coastal provinces such as Jiangsu or Zhejiang had been among the regions with the highest construction industry revenue in China.The construction industry account for a large proportion of China’s GDP and hence plays an essential role in domestic economy. Added value from the construction industry in China has been increasing by at least 4.3 percent annually in the recent decade, ranging above the average level of China’s GDP growth during the same period. Another significant sector, residential real estate development has been seen as a main driver of China’s economy in the recent decade. Around 1,533 million square meters of floor space had been built in 2018. Total investments in residential real estate in China had amounted to about 8.7 trillion yuan in 2017.

Value added in the Chinese construction industry from 2008 to 2019

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Source

Release date

February 2020

Region

China

Survey time period

2008 to 2019

Supplementary notes

Note: 1 yuan equals approximately 0.14 U.S. dollars and 0.13 euro as of April 2020.

Figure for 2008 was taken from an earlier publication.

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