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China’s Construction Industry Enters a New Era of Crisis

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China’s construction industry enters a new phase of crisis

The price of new housing in China has recorded a 16% drop, marking the highest price decline in the past seven years. This continuous price drop 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 across various sectors, providing 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 part of the crises facing China’s construction industry.

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