According to the latest data released by the Hunan Statistics Bureau on August 11, in the first half of this year, Hunan’s construction industry achieved a record gross output value of 500 billion CNY. Hunan becomes one of the ten domestic regions with the construction sector output value exceeding 500 billion CNY.

Data shows that, in the first half, Hunan-based construction enterprises (including qualified general and specialty contractors) had achieved a total output value of 542.911 billion CNY, making a year-on-year increase of 16.6% and a growth of 11% on the two-year average basis. Among the total, the output value of construction projects takes up 86% while that of installation projects 7.8%.

Along with the good momentum of domestic economic development and the expanding demands of markets, Hunan-based construction enterprises have got increasing number of contracts. In the first half, contracts worth more than 2 trillion CNY were signed, increasing by 26.7% over last year, and 18.6% over 2019. More than one third of those contracts were newly-reached, with a total value of 625.61 billion CNY, up 15.4% year on year.

Hunan’s construction industry shows a relatively high outward-oriented degree, ranking eighth nationwide. In the first half, the Hunan-based construction enterprises had accomplished an output value of nearly 194.85 billion CNY in other provinces, up 22.1 year on year and accounting for 35.9% of their total output.

The stable development of construction industry has created more job opportunities in Hunan. In the first half, there were nearly 2.1 million construction industry employees, growing by 4.2% over last year. Hunan is also one of the eight regions with most construction industry employees nationwide. 
 
This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Pang Yuehui

Chinese source: hunan.gov.cn