China’s construction industry enters a new era of crisis
The price of new housing in China has recorded the highest decline in seven years with a 16% price drop. This continuous price decline has further complicated the already dire situation of the construction industry in China.
The construction industry in China has been the main hub for wealth creation and development in various sectors and has provided the largest and most powerful avenues for attracting domestic and foreign investment. The bankruptcy of Evergrande, the world’s largest construction company, at the end of last year was only a part of the crises facing China’s construction industry.