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 3.5 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 1,643 million square meters of floor space had been built in 2020. Total investments in residential real estate in China had amounted to about 8.7 trillion yuan in 2017.
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National Bureau of Statistics of China. (February 28, 2023). Value added in the Chinese construction industry from 2008 to 2022 (in billion yuan) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/278211/added-value-in-the-chinese-construction-industry/
National Bureau of Statistics of China. "Value added in the Chinese construction industry from 2008 to 2022 (in billion yuan)." Chart. February 28, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/278211/added-value-in-the-chinese-construction-industry/
National Bureau of Statistics of China. (2023). Value added in the Chinese construction industry from 2008 to 2022 (in billion yuan). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/278211/added-value-in-the-chinese-construction-industry/
National Bureau of Statistics of China. "Value Added in The Chinese Construction Industry from 2008 to 2022 (in Billion Yuan)." Statista, Statista Inc., 28 Feb 2023, https://www.statista.com/statistics/278211/added-value-in-the-chinese-construction-industry/
National Bureau of Statistics of China, Value added in the Chinese construction industry from 2008 to 2022 (in billion yuan) Statista, https://www.statista.com/statistics/278211/added-value-in-the-chinese-construction-industry/ (last visited August 25, 2024)
Value added in the Chinese construction industry from 2008 to 2022 (in billion yuan) [Graph], National Bureau of Statistics of China, February 28, 2023. [Online]. Available: https://www.statista.com/statistics/278211/added-value-in-the-chinese-construction-industry/