China’s urbanization wave is considered by many to be the largest in human history. Following Deng Xiaoping’s reform and open up policy, millions of rural Chinese moved to China’s major coastal cities looking for opportunities in the newly-established factories. As a result, cities like Shanghai and Shenzhen grew into sprawling metropolises practically overnight. However, much of China’s rural to urban movement has been absorbed by the megacities unknown to most people outside the country. As cities like Beijing and Guangzhou continue to grow and mature, cost of living is rising as well. With economic development now spreading to these lesser known cities, people are beginning to abandon China’s largest cities for the increasingly cosmopolitan regional hubs. Most of the accompanying construction boom has been exploited by domestic companies, and largely state-owned businesses at that. In 2013, less than 300 construction companies were foreign invested, compared to almost 80,000 domestic ones. Construction and real estate in China is largely a domestic game.
In this issue:
- Powering China’s Urbanization: A Market Overview of the Real Estate Sector
- Building for the Future: Selling Construction Materials in China
- Opportunities for a Foreign Architect or Firm in China
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in Asia. Since its establishment in 1992, the firm has grown into one of Asia's most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam, Dezan Shira Asian Alliance member-firms in Indonesia, Malaysia, Philippines and Thailand, as well as liaison offices in the United States, Italy and Germany.
Sources: Dezan Shira & Associates – www.dezshira.com Used with permission. All materials and contents © 2015 Asia Briefing Ltd.
This magazine was originally published by China Briefing.