H1 growth

China: According to the Xinhua News Agency, construction output in China increased +18.4% in H1 of 2003, compared to H1 2004. Construction put in place for the six month period was CNY 1206 billion (US$ 149 billion).

The value of contracts signed was put at CNY 3137 billion (US$ 387 billion), an increase of +19.7%. The ‘total area under construction’ increased by +18.6% to 2199 km²,

While completed construction surface area was up +21.8% to 380 km².

Gross revenues for the industry were put at CNY 1036 billion (US$ 128 billion) up +21.7%, with profits up +25.4% at CNY 15.2 billion (US$ 1.9 billion), for a margin of 4.7%.