Chinese construction industry: governance, procurement and culture

Abstract

The past two decades have witnessed the rapid development of China’s economy. Since the “open door policy” was implemented in 1978, ushering in a period of economic reform, China has achieved remarkable success in economic development. To accommodate the rapid expansion in demand for building and infrastructure, China’s construction industry has achieved extraordinary growth and has formed the backbone in China’s economy. The objectives of this study are: to review the Chinese construction industry; to identify the weakness of the industry; and to identify opportunities for the foreign firms. This study will be a key source for outsiders seeking to understand this enormous market.