Chinese construction companies in 2011 were awarded international contracts for the first time worth over US$100 billion, according to a report presented Wednesday, 25 April, in Macau.
The “Report on development of overseas projects 2011-2012,” published by the China International Contractors Association (Chinca) and made public in Macau at the 3rd International Forum on Infrastructure Investment and Construction, said that Chinese construction companies last year signed new contracts worth US$142.3 billion, of which US$103.4 billion had been carried out.
According to the report, despite the overall amount exceeding US$100 billion for the first time, “due to the negative circumstances of the market for international projects,” the annual rate of growth of new contracts, “was of just 5.9 percent, of 60 basis points less,” than in 2010.
Analysing various international markets Chinca noted the “dynamism and expansion,” of emerging markets, the recovery trend in the African market, “constant growth” of the Latin American market, increased business in Europe and the all-time record in North America, against a backdrop of cooling of the Asian market. (macauhub)