Recently, the China Construction Industry Association released the "Statistical Analysis of Construction Industry Development in the First Half of 2024." Statistics show that in the first half of 2024, China's gross domestic product (GDP) was 61.6836 trillion yuan, an increase of 5.0% over the same period of the previous year. In the first half of the year, the construction industry achieved an added value of 3.7771 trillion yuan, an increase of 4.8% over the same period of the previous year, a growth rate 0.2 percentage points lower than the GDP growth rate. The added value of the construction industry accounted for 6.12% of GDP; Jiangsu, Zhejiang, and Guangdong each completed a total construction output value exceeding 1 trillion yuan.

In the first half of 2024, construction enterprises nationwide (referring to general contracting and specialized contracting construction enterprises with qualification grades, excluding labor subcontracting construction enterprises, the same below) completed a total construction output value of 13.831186 trillion yuan, a year-on-year increase of 4.8%, 0.9 percentage points higher than the growth rate of national fixed asset investment (excluding rural households, the same below); construction enterprises completed a completed output value of 4.823189 trillion yuan, a year-on-year increase of 1.9%; the output value completed in other provinces was 4.754187 trillion yuan, a year-on-year increase of 4.2%, accounting for 34.37% of the total construction output value; national fixed asset investment was 24.5391 trillion yuan, a year-on-year increase of 3.9% on a comparable basis, of which investment in construction and installation engineering increased by 3.8% year-on-year, 0.1 percentage points lower than the growth rate of national fixed asset investment; the total contract value signed by construction enterprises nationwide was 53.303525 trillion yuan, a year-on-year increase of 3.7%, of which the value of newly signed contracts was 14.912506 trillion yuan, a year-on-year decrease of 3.3%; the floor space under construction was 11.039 billion square meters, a year-on-year decrease of 6.2%. Among this, the newly started floor space was 1.518 billion square meters, a decrease of 14.2% over the same period of the previous year. The completed floor space was 1.351 billion square meters, a year-on-year decrease of 4.8%.

As of the end of June 2024, there were 151,901 construction enterprises with construction activities nationwide, a year-on-year increase of 8.7%; the number of employees was 38.2074 million, a year-on-year decrease of 4.9%. Among them, there were 10,050 state-owned and state-controlled construction enterprises, an increase of 1,338 over the same period of the previous year, accounting for 6.62% of the total number of construction enterprises. In the first half of 2024, the labor productivity calculated on the basis of total construction output value was 294,227 yuan/person, a year-on-year increase of 4.05%.

In addition to Jiangsu, Zhejiang, and Guangdong, there were also 11 regions with a total output value exceeding 500 billion yuan: Hubei, Shandong, Sichuan, Fujian, Beijing, Hunan, Anhui, and Henan. The total construction output value completed by the above 11 provinces and municipalities accounted for 70.7% of the national total construction output value.

Judging from the growth of total construction output value in each region, the total construction output value of 25 regions increased by varying degrees over the same period of the previous year. Among them, Tibet had the largest increase, reaching 19.7%, followed by Inner Mongolia, with an increase of 10.9%. The total construction output value of six regions—Ningxia, Qinghai, Shanxi, Heilongjiang, Shaanxi, and Beijing—showed negative growth over the same period of the previous year.

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