Taixing city – located in East China's Jiangsu province – is aiming to generate over 120 billion yuan ($19.69 billion) in total construction output value this year, according to projections made on Feb 3 at a conference on construction industry development.
Taixing Vice-Mayor Sun Hongdong said the city would encourage construction businesses to seize policy opportunities. These include the strategy of expanding domestic demand, the dual-circulation development pattern, supply-side reform, the Belt and Road Initiative and the Yangtze Economic Belt Initiative.
The city is also pushing construction companies to extend their industry supply chains to upstream and downstream businesses, as well as to move into strong areas such as new infrastructure, rail transportation, intelligent new cities and urban complexes.
It is widely deemed necessary that the construction industry, although a traditional industry, also needs to engage in an upgrade and in innovative development.
Vice-Mayor Sun Hongdong said there were plans for the city's construction industry to promote reforms of its construction modes.
The construction industry will make moves to develop prefabricated buildings, and expand its technical research and demonstration projects, in order to reduce costs and improve quality.
In terms of engineering management, Taixing will encourage businesses to transform from gross construction contracts to gross engineering contracts, as well as from being contractors to service providers and operators.