China 2024-04-15T05:19:45+03:00
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China's construction sector makes great strides in past decade: report

China's construction sector makes great strides in past decade: report

economics, China, construction sector, PRC, Statistic
Staff members work at the construction site of the Wenchang International Aerospace City in Wenchang, south China's Hainan Province. Photo by Xinhua/Pu Xiaoxu.
Staff members work at the construction site of the Wenchang International Aerospace City in Wenchang, south China's Hainan Province. Photo by Xinhua/Pu Xiaoxu.
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China's construction sector has made marked headway in scale and structure in the past decade, official data showed, according to The Xinhua News Agency reports.

In 2021, the total output value of construction enterprises nationwide reached ¥29.3 trln (about $4.22 trln), up 1.14 times from 2012, the National Bureau of Statistics said in a report.

By the end of 2021, China had 2.26 mln construction enterprises. From 2013 to 2021, the number of enterprises increased at an average annual rate of 6.1%, achieving a leapfrog development in terms of the scale of the industry.

The construction sector also saw an improving structure. In 2021, the number of top-notch, first-class construction firms in China reached 16,000, up 84.3% from 2012.

The industry has grown to become a major contributor to employment. In 2021, 81.8 mln people were working in construction firms, ranking second only to the manufacturing sector in the capability of creating jobs, according to the report.

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