Chinese overseas contractors are actively seeking new customers in markets they previously had less involvement with, including Europe and Latin America, as total revenues surged by 17.6 percent in 2013 compared with a year ago, a national trade organization said on recently.
Chinese contractors made more than $137 billion in revenue last year, according to China International Contractors Association, the largest industry organization in the country.
Although the major customers remain in Asian and African markets, demand from countries such as the United Kingdom, Germany, Brazil and Mexico has rapidly jumped.
Chinese companies signed $11.4 billion worth of contracts in Europe, a jump of nearly 32 percent year-on-year, according to Zhang Xiang, a spokesperson with the association.
In Latin American markets, construction deals in infrastructure, harbor and oil refinery sectors were dominant.
The value of new contracts signed increased by 25 percent year-on-year to more than $18 billion in that region, according to the association.
"Telecommunications projects were predominately the biggest deals from Europe in the past, but we noticed road projects in Serbia and Belarus as well as labor demands from Germany have surged dramatically," Zhang says.
More companies are eyeing mid- and high-end projects in 2013, she added, saying China's technology edge in electronic and hydropower industries gave contractors an upper hand in attracting these orders.
More than a third of the bids over the last year were targeting mid- and high-end projects, data from the association showed.
Signs of economic recovery in developed economies will give contractors more investment opportunities this year, it said.
Last October, Beijing Construction Engineering Group partnered with the Manchester Airports Group Plc in building an "airport city" in the northern British metropolis.
The total investment for the project was estimated at around 800 million pounds ($1.3 billion; 970 million euros).
"Beijing Construction Engineering Group has been very active in that country and gained a good reputation from previous projects. The local government literally dragged the Chinese company into the deal," Zhang says.
A total of 55 Chinese companies were listed in the top 250 contractors in 2013 by Engineering News-Record, a leading industry magazine. The average revenue for the companies was $1.2 billion, a 6.4 percent year-on-year increase, said the magazine.
China is likely to receive more orders for high-speed railway projects, one of the best known high-tech export products from China.
Thailand, Hungary, Serbia and Russia are already in talks with China on introducing high-speed railways, Zhang says.
Xianhua
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