China continues to represent the most rapidly growing major national market for construction in the world. According to a new report from The Freedonia Group, "construction expenditures in China are expected to rise 9.1 percent per annum in real terms through 2014, moderating significantly from the pace of the 2004-2009 period." Increases in the Chinese construction market will be boosted by various market trends, including an expanding domestic economy, continuing industrialization, rebounding funding from foreign investors, increased income levels, rising population levels, household growth, and ongoing efforts to expand and upgrade physical infrastructure.
Key findings in this report:
-Nonbuilding construction will climb 10% annually through 2014 and will represent the fastest growing sector.
-State-led efforts to expand and upgrade China's transportation infrastructure will benefit growth in nonbuilding construction activity, as Government spending initiatives are the predominant drivers in this sector.
-Largest market for construction services in China is residential building.
-Residential building accounted for 37% of total construction spending in 2009.
-Nonresidential building construction expenditures projected to rise 9% yearly through 2014.
-Drivers of growth in nonresidential building construction sector will be rebounding local and foreign investment in manufacturing sectors and Government efforts to improve public services (i.e. health care and education).
For more details on this information:
http://www.the-infoshop.com/report/fd118983-cn-constr-outlook.html
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