China's building materials market is expected to flourish in the next decade, experts from the construction sector pointed out recently in a research report.
By 2010, the production value of the structural materials industry is projected to hit 1.21 trillion yuan (US$146.1 billion), more than twice the 446 billion yuan (US$53.7 billion) in 2000, the report by the Chinese Society of Structural Materials Industry said.
The growth rate of the structural materials industry is expected to stay at three or four percentage points higher than that of the national economy during the next decade, said the report.
The increase of population, speeding-up of urbanization, steady advancement of the national economy and the yearly completion of 10-billion-plus-square-meters of housing are regarded as the reasons for the sector's progress.
Currently, a number of overseas companies in building materials have branched out into China, including famous British structural materials company B&Q and German company OBI.
All are vying for China's market share and gradually hope to dominate the market, according to the report.
Facing the fierce competition from overseas giants, Chinese building materials companies are urged to improve the quality of their products and services. They also are working to establish a system of chain stores, franchises and distribution centers, the report said.
(Xinhua 08/26/2001)
