ZCZC
BCN-11
CHINA-CONSTRUCTION-INDUSTRY-GROWTH
China’s construction industry on rapid growth since 1978
BEIJING, Sept. 10, 2018 (BSS/Xinhua) – China’s construction industry has
seen rapid expansion since the country began to implement the reform and
opening up policy in 1978, data showed.
The value-added output of the industry reached 5.57 trillion yuan (about
816.6 billion U.S. dollars) in 2017, compared with only about 13.9 billion
yuan in 1978. The average annual growth rate was 16.6 percent, the National
Bureau of Statistics (NBS) said at its website.
The value-added output of the industry accounted for 3.8 percent of the
country’s GDP in 1978, while the proportion rose to 6.7 percent in 2017, the
NBS said.
The number of construction companies saw fast growth, reaching more than
300,000 last year. The private sector played a more important role, with the
number of state-owned construction companies accounting for only 2.5 percent
of the total in 2017, compared with more than 20 percent in 1996.
The companies contributed significantly to the country’s infrastructure
expansion. In 1978, China only had 52,000 km of railways in operation, while
the length increased to 127,000 km by the end of 2017, including 25,000 km of
high-speed railways, NBS data showed.
BSS/XINHUA/HR/0955