China Infrastructure Report Q4 2015

Date: October 14, 2015
Pages: 166
US$ 1,295.00
Report type: Strategic Report
Delivery: Download
ID: C521674267EEN

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Includes 3 FREE quarterly updates

BMI View: China's construction sector is undergoing a structural slowdown as the country shifts from an investment driven model, which focused on fiscal stimulus measures targeting the infrastructure sector. Opportunities remain substantial, however, given the country's large infrastructure deficit and ongoing reforms to spur private investment and improve regional connectivity through its One Belt One Road initiative.

Key Trends And Developments
  • China's construction sector will grow by an annual average of 4.7% between 2015 and 2019, a marked slowdown relative to the 9.3% registered 2010-2014. We have long held the view the sector will see an inevitable slowdown as Beijing steers the economy towards more consumption-led growth, as opposed to an investment driven one.
  • We believe the slowdown in China's construction sector will continue to largely be led by the real estate segment and with FAI into the sector seeing a consistent slowdown in growth rates over the past two years.
  • We believe efforts by the government to use monetary and fiscal stimulus measures targeted at the infrastructure sector to prop up economic growth will not be sustainable. Despite also looking to attract private sector investment, we expect such efforts to have a limited impact on the sector's growth
  • Despite the slowdown, China will remain an attractive market, with the government's Belt and Road initiative, providing a boost to the transport segment. We also see opportunities in the railway sector and expect continued investment in the sector during 2015.
  • We believe reforms are also a long-term positive for the sector and significant progress on reforms in the railway segment will bode well for the segment.
  • Such reforms will take years to gain traction due to three key factors: the time taken for private participation reforms to mature and be fully implemented, the general unattractiveness of infrastructure assets in China due to their elevated levels of leverage and the economic viability of the infrastructure projects on offer to the private sector.
BMI Industry View
Infrastructure SWOT
Industry Forecast
Construction And Infrastructure Forecast Scenario
  Table: Construction And Infrastructure Industry Data (China 2013-2018)
  Table: Construction And Infrastructure Industry Data (China 2019-2024)
Transport Infrastructure - Outlook And Overview
  Table: Transport Infrastructure Industry Data (China 2013-2018)
  Table: Transport Infrastructure Industry Data (China 2019-2024)
  Table: China - Key Guidelines For Railway Development Fund
  Table: Key Projects: Transport Infrastructure
Energy And Utilities Infrastructure - Outlook and Overview
  Table: Energy And Utilities Infrastructure Data (China 2013-2018)
  Table: Energy And Utilities Infrastructure Data (China 2019-2024)
  Table: Key Projects: Energy & Utilities
Residential/Non Residential Building - Outlook And Overview
  Table: Residential and Non-Residential Building Industry Data (China 2013-2018)
  Table: Residential and Non-Residential Building Industry Data (China 2019-2024)
  Table: Key Projects: Construction & Social Infrastructure
Industry Risk Reward Ratings
China - Infrastructure Risk/Reward Index
China's Risk/Reward Index
Industry Risk Reward Ratings
Market Overview
Competitive Landscape
  Table: EQS Industry Data
Company Profile
China Communications Construction
Shanghai Construction Group
China Railway Group
China Railway Construction Corporation
Global Industry Overview
  Table: Infrastructure Key Themes 2015
  Table: Asia: Key Reforms
Project Risk Index: Robust Financing Establishes Outperformer Status
  Table: Project Risk Index - Top 10 Markets
  Table: Project Risk Index - Financing Risk, SSA Top 5
  Table: Project Risk Index - Construction Risk, Asia-Pacific Top 5
  Table: Project Risk Index - Operation Risk, Developed Markets Top 5
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Sector-Specific Methodology
  Table: Infrastructure Risk/Reward Index Indicators
  Table: Weighting Of Indicators
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