Despite a worldwide recession, the Chinese construction industry continued its rapid growth in 2008. In the Sixth Annual ENR/Construction Times China ranking survey, the Top 60 Chinese Contractors as a group generated $237.82 billion in construction revenue in 2008, an 18.5% increase from $200.70 billion in 2007. The Top 60 Chinese Contractors accounted for about one quarter of China’s estimated $900-billion construction market.
Large Chinese design firms also continued to grow in 2008, according the ENR/Construction Times China survey. The Top 60 Chinese Design Firms as a group generated $9.64 billion in revenue in 2008, a sharp rise of 35.9% from 2007, when the group had a combined revenue of $7.10 billion.
Chinese construction firms also fared well in the international market. The Top 60 Chinese Contractors earned $26.33 billion in revenue in 2008 from projects outside of China, a 30.9% increase from 2007. The Top 60 Chinese Design Firms also received $1.02 billion in revenue in 2008 from projects outside of China, a 34.7% increase from 2007.
The ENR/Construction Times China Top 60 Chinese Contractors list increasingly is dominated by large central construction enterprises, like China Railway Group Co., China Railway Construction Corp., China State Construction Engineering Corp. and China Communications Construction Group, compared to more local firms. This year, 13 central enterprises accounted for 62.5% of the total revenue from Top 60 Chinese Contractors, compared to the 24 private firms on the list that generated $33.65 billion, only 15% of the total.