China's building industry is in an adjustment stage. Due to blind and repeated investment in 2003, there have appeared signs of overheating of the national economy, particularly in the low technology, labor-intensive industries such as building and energy resources. Therefore the Chinese government is using administrative and macroeconomic tools to adjust the economy.
Building enterprises have suffered continuous decreasing of average profit rate year by year. Situations in state-owned construction companies are especially serious. State-owned listed companies have better performance.
Chinese building firms are characterized by small-scale and great amount. The excessive competition in the industry has caused a disordered industrial pattern. The contract prices of some projects are so over depressed that the quality can't be assured and the firm's image is impaired.
Over 85 percent labor forces in the building and construction industry come from rural areas. Less educated and conservative, they have poor building techniques, which hampered the sustainable development of industry and advance in science and technology.
There are some even serious problems: low price, asking for return commission, holding projects by using the money for other sources, together with huge unpaid project money. These problems have caused a lot of building firms tight in money and marginal profits, even long period losses, which in turn sever as an obstacle to input of science and technology, and equipments.
Constant scarcity and increasing price of coal, electricity, oil and transportation has been an important factor affecting the development of building industry.
Publication of Outline for Practicing Requirements Examination of A-class Constructor by construction ministry on May 13, 2004 was an indication of project manager qualification system shifting to practicing requirements system.
The new added loans are estimated to reach 2.3-2.5 trillion Yuan in 2005, up about 14 percent.
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