China’s construction industry set to grow by 7.7% in real terms in 2021
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According to the NBS, the construction industry registered a Y-o-Y growth of 1.8% in the second quarter of 2021, while cumulatively the industry grew by 8.6% in the first half of 2021, following annual growth of 3.5% in 2020. The recovery in China’s construction industry, following the severe disruption caused by the COVID-19-induced lockdown in the first two months of 2020, slowed in the second quarter of 2021
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GlobalData expects the industry to register an annual growth of 7.7% in real terms in 2021, supported by investments in transport, renewable energy, and housing infrastructure projects. According to the NBS, fixed-asset investments rose by 24.4% YoY in the first half of 2021
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Further, the industry is expected to register an average annual growth of 4.2% between 2022 and 2025, supported by investments in transport, power, manufacturing, health, education, research, and housing projects as part of China’s 14th Five-Year Plan (2021–2025)
China’s construction industry set to grow by 7.7% in real terms in 2021
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