The construction industry is a pillar of China's national economy and has made important contributions to economic and social development, urban and rural construction, and improvement of people's livelihoods.
The profit growth rate of the output value of the construction industry is relatively stable. The labor productivity of the construction industry has been greatly enhanced as a result of the improvement of the technical and management level of the industry.
The promotion of urbanization will bring about a great demand for urban housing construction, urban infrastructure construction, and urban commercial facility construction. Meanwhile, industrial and energy bases, transportation facilities and other markets will also maintain a strong demand. It is estimated that the urbanization rate in China will reach 60 percent by 2020 with an average annual increase of 1 to 1.5 percent. When the urbanization rate rises by 1.5 percentage points, the output value of the construction industry will increase by 20 percent. With the steady advancement of urbanization in China, the prospect of the construction industry is very bright.
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