China’s biggest construction company claims continued double-digit growth

Construction work underway on the China-Thailand High Speed Rail Project (Image: CSCEC)

The value of China State Construction’s (CSCEC) newly signed construction contracts hit CNY 3,426.1 billion (US$483 billion) between January and November 2023.

That’s according to the latest figures issued by China’s biggest construction company in a trading update. It said the performance represented year-on-year growth of 11.3%.

It registered a 19.8% increase in new infrastructure construction contracts over the period to CNY 997.6 billion (US$140.7 billion).

And despite China’s continued property crisis, CSCEC claimed an 8.1% year-on-year increase in housing construction contracts, with a total value of CNY 2,415.6 billion (US$340.5 billion).

Its survey and design services arm also recorded double-digit growth of 10.9%, growing to CNY 12.9 billion (US$1.8 billion).

The bulk of CSCEC’s construction contracts came from the domestic market. Domestic contracts over the period totalled CNY 3,315 billion (US$467.4 billion).

By contrast, overseas contracts made up just 3.2% of all new contracts, at CNY 111 billion (US15.7 billion).

CSCEC also claimed to have a land bank of 87.1 million m2.

High-profile overseas projects CSCEC is working on include the China-Thailand High-Speed Rail Project. It involves the construction of 600km of standard-gauge line from Bangkok to the town of Nong Khai on Thailand’s border with Laos, where a bridge is expected to connect it with the China Laos Railway.

CSCEC also broke ground recently on Serbia’s Backi Breg-Srpska Crnja expressway, running 186km in the Vojvodina Province of Serbia, near the Hungary-Romania border.