After implementing continuous COVID-19 response measures over the past three years, China re-opened its doors to the world in December 2022. Having been impacted by pandemic-related restrictions as well as domestic and international headwinds, the country is now starting a fresh chapter with new obstacles and opportunities ahead. By Fei (Grace) Chen, China Cement Association, China.
Despite proactive infrastructure investments as appropriate since early 2022, cement demand in China decreased sharply during the year because of a slowdown in real estate development activity and pandemic-related restrictions. According to China’s National Bureau of Statistics (NBS), in 2022 nationwide real estate investment fell by 10 per cent YoY to CNY13,289.5bn (US$1834.45bn). In terms of floor area, housing construction by real estate developers declined by 7.2 per cent YoY to 9.05bnm2, of which residential construction was 639.96Mm2 (ie, 7.3 per cent lower), and new housing construction was 120.58Mm2 (-39.4 per cent YoY). On the other hand, investments in infrastructure construction increased by 9.4 per cent on a YoY basis.
