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 693 million square meters of floor space had been built in 2023.
Value added in the Chinese construction industry from 2008 to 2023
(in billion yuan)
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National Bureau of Statistics of China. (February 29, 2024). Value added in the Chinese construction industry from 2008 to 2023 (in billion yuan) [Graph]. In Statista. Retrieved September 20, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/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 2023 (in billion yuan)." Chart. February 29, 2024. Statista. Accessed September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/278211/added-value-in-the-chinese-construction-industry/
National Bureau of Statistics of China. (2024). Value added in the Chinese construction industry from 2008 to 2023 (in billion yuan). Statista. Statista Inc.. Accessed: September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/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 2023 (in Billion Yuan)." Statista, Statista Inc., 29 Feb 2024, https://www-statista-com.ezproxy.canberra.edu.au/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 2023 (in billion yuan) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/278211/added-value-in-the-chinese-construction-industry/ (last visited September 20, 2024)
Value added in the Chinese construction industry from 2008 to 2023 (in billion yuan) [Graph], National Bureau of Statistics of China, February 29, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/278211/added-value-in-the-chinese-construction-industry/