The characteristics and current status of China's construction industry

Abstract

The development of China's construction industry is presented by describing its current status and highlighting its achievements, identifying the main constraints preventing the industry from playing a more effective and efficient role in the country's economic development. Fundamental changes occurred in the construction industry after the economic reform, and the industry has been playing a very important role in the national economy, having made impressive progress and been developed at an amazing speed. However, reforms in the construction industry are difficult since this industry is not a single sector. The reform process by its very nature is not systematic. The challenges ahead are serious, and deeper reforms of the economic system are required.China, Construction Industry, Economic Reform, Business Environment,

Role of construction in economic development: Review of key concepts in the past 40 years

“…The share of the value added by construction as a percentage to GDP was found to be around 3e5% for developing countries and 5e8% for more developed countries over the period of 1955e1965 (Turin, 1969). The results were later confirmed by many other studies such as those completed by Edmonds and Miles (1984), Wells (1985Wells ( , 1986, Ofori (1988), Low and Leong (1992), and Chen (1998). Although these studies focused more on the static view of the close relationship between construction activity and economic growth, these studies did note that construction's role in the economy would decline when the economy reaches the middle income stage (Strassmann, 1970) or when the volume of construction products was sufficient to raise the productive capacity of the economy at a steady growth rate (Wells, 1986).…”

Formation of blocks of categorial apparatus of construction industry

“…The scientific thought expressed in [9] emphasizes the influence of the construction industry on the national economy of the country, and its significance is further developed in [8]. The consequences of changes in the construction industry affect the economy of the state [3,5]. If there is a decline in construction, the disproportions as a consequence are felt in all aspects of life.…”

“…The construction industry is characterized by activities related to the production process, technological connection of all operations related to the construction process, management of the sequence of construction stages [5].…”

Overview of funding for construction craft skills training in Sub‐Saharan Africa: a case study of Zambia

“…This GDP contribution could be much higher if the hidden economy, of which construction usually boasts a substantial proportion of through its backward and forward linkages (Chen, 1998;Fleming, 1988) and other informal activities especially in the housing sector in less developed countries (Nordberg, 2000;Wells, 2001), is taken into account. Construction also provides the infrastructure that supports other sectors of the economy.…”