TABLE OF CONTENTS
SECTION PAGE
INTRODUCTION ix
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Economic Overview 5
Recent Economic Performance 5
Economic Outlook 7
Demographic Overview 8
Population 9
Urbanization 11
Households 12
Industrialization & Manufacturing Trends 13
Labor Force & Employment Patterns 15
Personal Income Trends 19
Interest Rates 21
Currency Exchange Rates 25
Inflation & Pricing Patterns 28
Legal & Regulatory Environment 31
Construction Technology & Quality 34
The Five-Year Plan 35
III. OVERVIEW 38
General 38
Construction Expenditures by Type 38
Construction Expenditures by Market 41
International Environment 43
World Construction Expenditures 44
Foreign Participation in China s Construction Industry 45
IV. RESIDENTIAL BUILDING 48
General 48
New Housing 52
Single Family 53
Multiple Family 55
Additions & Alterations 57
Maintenance & Repair58
Housing Stock 60
Single Family 63
Multiple Family 65
Ownership 66
Living Space 68
Urban 70
Rural 70
V. NONRESIDENTIAL BUILDING 72
General 72
New Construction 75
Additions & Alterations 76
Maintenance & Repair 77
Structure Types 78
Industrial 80
Institutional 81
Office & Commercial 82
Other 83
Nonresidential Building Stock 84
VI. NONBUILDING CONSTRUCTION 86
General 86
New Construction 89
Maintenance & Repair 90
Structure 91
Roads & Other Transportation 93
Utilities 94
Other 95
VII. REGIONAL TRENDS 97
General 97
Regional Demographics & Economic Trends 100
Population Patterns 100
Economic Outlook 102
Regional Construction Expenditures 103
Central-North 105
Overview 105
Construction Expenditures 107
Northeast 109
Overview 109
Construction Expenditures 112
Central-East 113
Overview 113
Construction Expenditures 115
Central-South 117
Overview 117
Construction Expenditures 119
Southwest 122
Overview 122
Construction Expenditures 123
Northwest 125
Overview 125
Construction Expenditures 127
VIII. INDUSTRY STRUCTURE 130
General 130
Industry Composition 131
Market Share 134
China Railway Engineering 134
China Railway Construction 135
China State Construction Engineering 135
China Metallurgical Construction 136
China Harbour Engineering 136
Shanghai Construction Group 136
Other Leading Companies 137
Marketing 137
Financial Issues & Requirements 143
Capital Expenditures 144
Project Funding 146
State 146
Private Domestic 147
Foreign Investment 147
Company Profiles 148
Aker Kvaerner ASA 149
Anhui Construction Engineering Group Company Limited 150
Balfour Beatty plc 152
Bechtel-CITIC Engineering, see Bechtel Group
Bechtel Group Incorporated 154
Beijing Chang Cheng Bilfinger Berger Construction
Engineering Company, see Beijing Construction
Engineering Group Company and Bilfinger Berger
Beijing Construction Engineering Group Company Limited 156
Beijing Urban Construction Group Company Limited 158
Bilfinger Berger AG 160
Black & Veatch Holding Company 162
Bouygues Group 164
Bovis Lend Lease Projects Shanghai Company, see
Lend Lease Corporation
BSF China Company, see Bechtel Group, Foster Wheeler
and Sinopec Engineering
China Electric Power Technology Import
& Export Corporation 166
China Harbour Engineering Company Limited 167
China Huashi Enterprises Company Limited 169
China International Water & Electric Corporation 171
China Jiangsu Construction Corporation 173
China Metallurgical Construction Group Corporation 174
China Railway Construction Corporation 176
China Railway Engineering Corporation 178
China Road and Bridge Corporation 180
China State Construction Engineering Corporation 181
China Zhongtie Major Bridge Engineering Group Company,
see China Railway Engineering Corporation
Chinese Military Industry Limited Liability Company, see
Fujian Construction Engineering Group Company
Chiyoda Corporation 184
Colas SA, see Bouygues Group
CTCI Corporation 186
Dragages Hong Kong Limited, see Bouygues Group
Fluor Corporation 188
Foster Wheeler Limited 190
Fujian Construction Engineering Group Company 192
Gammon Construction Limited, see Balfour Beatty plc
Guangdong Construction Engineering Group Corporation 194
Guangdong Overseas Construction Group Limited 196
Guangsha Construction Group Company Limited 197
Halliburton Company 198
Hebei Construction Group Company Limited 200
Hip Hing Construction Company, see NWS Holdings
HOCHTIEF AG 202
Jingding Engineering & Construction Company, see
Sinopec Engineering Incorporated and CTCI Corporation
KBR Incorporated, see Halliburton Company
Leighton Asia Northern Limited, see HOCHTIEF AG
Lend Lease Corporation Limited 204
NWS Holdings Limited 206
Pat Davie China, see Shui On Construction and Materials
Shaanxi Construction Engineering Group Corporation 208
Shanghai Construction Group General Company 209
Shui On Construction and Materials Limited 211
Sinohydro Corporation 212
Sinopec Engineering Incorporated 214
Tianjin Construction Engineering Group Company 217
VSL Group, see Bouygues Group
Washington Group International Incorporated 218
Xinjiang Construction Engineering Group Company 219
Zhejiang Construction Investment Group Corporation 221
Other Companies Mentioned in Study 222
Key Government Agencies & Industry Organizations 228
LIST OF TABLES
TABLE NUMBER PAGE
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Gross Domestic Product of China 8
2 Population of China 10
3 Households in China by Region 13
4 Manufacturing Value Added in China 15
5 Urban Labor Force & Employment Trends in China, 1995-2005 18
6 Per Capita GDP in China by Region 21
7 Interest Rates in China, 1995-2005 24
8 Chinese Currency Exchange Rates, 1995-2005 27
9 Construction Pricing Patterns in China 30
SECTION III -- OVERVIEW
1 Construction Expenditures in China by Type 40
2 Construction Expenditures in China by Market 42
3 Construction Expenditures for Selected Countries, 1995-2005 45
4 Foreign Participation in China s Construction Industry 47
SECTION IV -- RESIDENTIAL BUILDING
1 Residential Building Construction Expenditures in China
by Type 51
2 New Housing Construction in China 53
3 Residential Building Addition & Alteration Expenditures
in China 58
4 Residential Building Maintenance & Repair Expenditures
in China 60
5 Housing Stock in China by Structure & Ownership 62
6 Average Living Space in China 69
SECTION V -- NONRESIDENTIAL BUILDING
1 Nonresidential Building Construction Expenditures in China
by Type 75
2 Nonresidential Building Construction Expenditures in China
by Structure 79
3 Nonresidential Building Stock in China 85
SECTION VI -- NONBUILDING CONSTRUCTION
1 Nonbuilding Construction Expenditures in China by Type 89
2 Nonbuilding Construction Expenditures in China by Structure 92
3 Paved Roads in China by Region 94
SECTION VII -- REGIONAL TRENDS
1 Population of China by Region 102
2 Gross Domestic Product of China by Region 103
3 Construction Expenditures in China by Region 104
4 Central-North Region of China: Construction Expenditures 109
5 Northeast Region of China: Construction Expenditures 113
6 Central-East Region of China: Construction Expenditures 117
7 Central-South Region of China: Construction Expenditures 121
8 Southwest Region of China: Construction Expenditures 125
9 Northwest Region of China: Construction Expenditures 129
SECTION VIII -- INDUSTRY STRUCTURE
1 Revenue Data: Selected Construction Companies, 2005 133
2 Selected Cooperative Agreements 140
LIST OF CHARTS
CHART NUMBER PAGE
SECTION II -- MARKET ENVIRONMENT
1 Population of China by Age 11
2 Urban Unemployment Rate in China, 1995-2005 18
3 Interest Rates in China, 1995-2005 24
4 Chinese Currency Exchange Rates, 1995-2005 27
5 Construction Pricing Patterns in China 31
SECTION III -- OVERVIEW
1 Construction Expenditures in China by Type 40
2 Construction Expenditures in China by Market, 2005 43
SECTION IV -- RESIDENTIAL BUILDING
1 Residential Building Construction Expenditures in China
by Type, 2005 51
2 Housing Stock in China by Structure 63
3 Average Living Space in China 69
SECTION V -- NONRESIDENTIAL BUILDING
1 Nonresidential Building Construction Expenditures in China
by Structure, 2005 79
SECTION VI -- NONBUILDING CONSTRUCTION
1 Nonbuilding Construction Expenditures in China
by Structure, 2005 92
SECTION VII -- REGIONAL TRENDS
1 Construction Expenditures in China by Region, 2005 105
2 Central-North Region of China 107
3 Northeast Region of China 111
4 Central-East Region of China 115
5 Central-South Region of China 119
6 Southwest Region of China 123
7 Northwest Region of China 127
SECTION VIII -- INDUSTRY STRUCTURE
1 Construction Market Share in China by Company, 2005 134
