Chinese Construction Firms Need to Find New Global Markets, Industry Players Say
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China’s international contractors must find new global markets to counteract a slowdown in their traditional mainstays and hedge against risks arising from the trade war with the U.S., industry executives and experts said at a recent event.
The five-year span from 2026 to 2030 “will be a decisive period for Chinese companies engaged in overseas construction projects,” said Li Xiaoyu, vice general manager of China National Machinery Industry Corp., at a late-July workshop organized by the China International Contractors Association (CHINCA). Li urged the firms to explore new markets while transforming or upgrading their business models.
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- Chinese international contractors face slowing growth and must find new markets due to rising risks from the U.S. trade war and weakening domestic demand.
- From 2020–2024, overseas contract value rose from $255B to $264.3B, but growth rates have slowed; Asia and Africa remain dominant markets.
- In 2024, China’s top 31 listed construction firms saw new contracts fall 3%, revenues drop 5%, and profits decline 15% year-over-year.
- China National Machinery Industry Corp.
- Li Xiaoyu, vice general manager of China National Machinery Industry Corp., states that 2026-2030 will be a crucial period for Chinese overseas construction companies. He advises these firms to explore new markets and transform their business models to counteract slowdowns in traditional markets and risks from the US trade war.
- 2020：
- Chinese contractors signed $255 billion worth of new contracts abroad; completed turnover was $155.9 billion.
- 2020 to 2024：
- Asia accounted for 50%-55% of all new Chinese overseas contracts, averaging around $150 billion annually; Africa made up 26%-30%, with annual values between $70 billion and $80 billion.
- 2024：
- Chinese contractors signed $264.3 billion worth of new contracts abroad; completed turnover was $166 billion. China’s 31 listed construction companies saw new contract values fall 3% year-over-year, revenues dropped 5%, and profits plunged 15%.
- By 2024：
- Growth rates for both new contracts and completed turnover by Chinese contractors abroad slowed compared with the previous five-year period.
- Late July 2025：
- Li Xiaoyu and other executives spoke at a China International Contractors Association (CHINCA) workshop about the future and challenges for Chinese international contractors.
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