ECONOMIC OUTLOOK
Roaring again?
taking up to 15 years to clear. Central leaders
have indicated that new urbanisation policies
will focus on developing small towns and cities
into medium-size ones, to avoid the pitfalls
encountered in developing current mega-cities.
However, the greatest risk with the new plan is
that it will entice local governments to continue
already unsustainable investment spending,
further deepening their debt levels and creating
overcapacity in housing, finance and education.
dam on the Dadu River with a ten year
construction cycle and a cost of US$ 4.02 billion.
The non-residential construction centre remains
strong. While diversified across structure types,
industrial buildings remain a priority, and there
have been some significant announcements about
new plants form the automotive sector.
Even so, it is the commercial and institutional
structures that will grow the most as the central
government makes urbanisation a priority.
iC
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Infrastructure improvements will extend to
drinking water, with coverage to 95% of the
population by 2015, and improving electricity
transmission and smart metering capabilities in
city centres.
For waste treatment, the goal is an 86%
treatment rate, requiring 73,000 km in new
wastewater piping. China is striving for 300
GW of hydropower capacity by 2015, and has
approved construction of its tallest hydroelectric
Average growth by sector
Non-Residential
Infrastructure
Residential
Total Construction
0%
5%
10%
5.1%
7.0%
14.8%
18.4%
12.5%
15.2%
7.9%
6.7%
7.3%
7.0%
7.6%
9.2%
20%
15%
2012-2017 2007-2012
2017-2022
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