Construction output value in China 2000-2024
In 2024, the construction industry in China generated an output of over
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yuan, representing an increase of more than Log in or register to access precise data.
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percent from a decade ago. Log in or register to access precise data.
Stimulus from the real estate sector and government-funded projects
With the liberalization of the housing market in the late 1990s, China's real estate industry enjoyed a 20-year boom since the early 2000s. Amidst the surge in housing prices, local governments across China received considerable non-tax revenue from land leases and in turn, invested the funds in infrastructure development projects. This led to the continuous prosperity of the country’s construction industry.
A vital segment of China’s economy
Thanks to the stimulus from housing developments and infrastructure projects, the construction industry is now one of the pillar industries of China's economy, accounting for around Log in or register to access precise data.***** percent of the country's GDP. However, with the recent difficulties experienced by many major real estate enterprises, and the stagnation in infrastructure construction owing to local governments' debt situation, China's construction sector faces a somewhat uncertain future.
