China's urbanization has advanced steadily since the reform and opening-up. According to the National Bureau of Statistics, China's urbanization level rose from 37.1% in 2001 to 56.1% in 2015. The acceleration of urbanization has driven the rapid development of China's construction industry and related engineering sectors.
The construction industry is an important material production sector of China's national economy and is closely related to the development of the entire national economy and the improvement of people's living standards. The growth rate of the construction industry is closely tied to the growth rate of fixed asset investment. According to data from the Qianzhan Industry Research Institute, in 2016, the planned total investment in China's construction projects was RMB 112,056.1 billion, up 10% year on year; the planned total investment in newly started projects was RMB 49,329.5 billion, up 21% year on year; and national real estate development investment was RMB 10,258.061 billion, up 7% year on year.
In the transportation construction industry, urban rail transit construction is in a period of rapid growth. Before 2000, mainland China had only four cities—Beijing, Shanghai, Tianjin and Guangzhou—operating seven urban rail transit lines, with a total length of 146 kilometers. By the end of 2015, 25 cities across the country had built 85 subway lines, with an operating mileage of 2,723 kilometers. Another 152 lines were planned or under construction. In the future, China's growing population and accelerating urbanization will continue to drive the rapid development of urban rail transit.
China's rapid economic growth has led to increasing demand for highways, driving the development of highway construction. According to data from the Qianzhan Industry Research Institute, in 2016, China's total highway passenger traffic was 15.6 billion person-trips, and total highway freight traffic was 33.6 billion tons, with compound annual growth rates of 0.36% and 8.51% respectively since 2002.
According to the Highway Engineering Construction Industry Analysis Report released by the Qianzhan Industry Research Institute, in 2016 China's total investment in highway construction reached RMB 1,787.8 billion, with a compound annual growth rate of 13.01% since 2002. In recent years, China has continuously increased investment in expressway construction. By the end of 2015, the total length of China's expressways reached 123,500 kilometers, surpassing the United States to rank first in the world.
The Highway Engineering Construction Industry Analysis Report released by the Qianzhan Industry Research Institute elaborates on the overall development of the highway engineering construction market from multiple perspectives, including market overview, industrialization progress, regional development, policy analysis and key enterprises, and on this basis analyzes the investment potential of highway engineering construction projects. For further questions, click online consultation to communicate one-on-one with researchers.