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China’s biggest construction company reports 17.7% increase in new contracts
31 May 2024
China’s biggest construction company, China State Construction (CSCEC) has claimed that newly signed contracts during January to April 2024 increased 17.7% year on year.
A CSCEC construction site (Image: Seazhsuwhoam, CC BY-SA 4.0, via Wikimedia Commons)
The company reported that newly signed contracts for the period totalled CNY 1,373.6 billion (US$189.9 billion).
It saw its biggest increase in infrastructure construction contracts, which totalled CNY 407.5 billion (US$6.2 billion), an increase of 44.7%.
Housing construction accounted for the largest share of newly signed contracts, at CNY 961.2 billion (US$132.9 billion) but rose by a more modest 9.3%.
But survey and design services fell 17.8% in the period as compared to the year before, down to CNY 4.9 billion (US$680 million).
The domestic construction market accounted for CNY 1,300.7 billion (US$179.8 billion), which was a 14.8% year on year increase.
Newly signed contracts in overseas markets totalled CNY 72.9 billion (US$10.1 billion), which was a 114% increase on the same period the year before.
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