BUSINESS

Chart of the Day: Asian Gains Shore Up Chinese Builders’ Overseas Business

Published: Apr. 28, 2025 8:24 p.m. GMT+8

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Asia drove a surge in overseas business for Chinese construction companies in 2024, helping to offset declines in Africa, Latin America and North America.

The value of new contracts that Chinese construction companies secured across Asia jumped 13.8% last year to $148.4 billion, accounting for 55.5% of the overseas total, according to a report released Thursday at an industry event organized by the China International Contractors Association. The value of all new overseas contracts for these companies rose 1.1% to $267.3 billion in 2024.

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In 2024, Chinese construction companies saw a 13.8% rise in new Asian contracts to $148.4 billion, making up 55.5% of overseas business and offsetting declines in other regions.
Saudi Arabia led as the top overseas market with $32.6 billion in contracts, while contract values fell by double digits in Africa, Latin America, and North America.
Electricity contracts rose 11.5% to $55.6 billion, with clean energy projects growing 12.7% to $49.3 billion, though transportation contracts dropped 14%.

AI generated, for reference only

Who’s Who

China Export & Credit Insurance Corp.: According to the article, Dai Dan, the assistant general manager of market development and customer service at China Export & Credit Insurance Corp., spoke at the industry event. She noted that Chinese contractors' overseas business is undergoing a transformation, with fewer long-term, high-value traditional power generation deals, and a rise in smaller, more flexible contracts involving new energy and oil drilling.

AI generated, for reference only