Research Article – Article Example
Building and Construction Industry in Hong Kong ID: This article written by Jacqueline Yuen, an economist with Hong Kong Trade Development Council provides an overall view of construction activity in the city as witnessed during last several years. The author has presented factual figures on the growth of this industry during 2013, while emphasizing that the industry grew by 9 percent with gross value of construction being around US $22.7 billion. The data provided in this article indicates towards the growth of employment in both public and private sector as well as the increase in number of construction projects completed during this year. The research article has discussed in detail about the construction activities in residential, commercial and industrial sectors, while highlighting the investment done in infrastructural development activities, such as Guangzhou-Shenzhen-Hong Kong express rail link, Hong Kong-Zhuhai-Macau Bridge as well as expansion of railroad networks. The article further enlightens the reader on the activities of services’ providers such as local and overseas contractors, subcontracting activities. The author has provided exhaustive details on the commercial aspect of construction industry in Hong Kong with export potential for construction projects to China and other countries in Asia. This article provides details on export services related with construction industry such as export of engineering consultancy and project management. In the end, the author has related the growth of construction industry in Hong Kong with the Chinese 12th Five-Year Plan that offers increased opportunities to local contractors with infusing of more funds in the infrastructure development projects.(Yuen, 2014)
This is a research article with an aim to promote the activities of Hong Kong Trade Development Council, in order to attract increasing number of international investors. The figures provided are indicative of growth taking place in this industrial sector, while emphasis is on the future infrastructural development. However, with population density of Hong Kong being more than the international average, there is dire need of residential projects that can offer decent living facilities to local residents, on reasonable prices. The current situation points towards high values of residential property in Hong Kong, which needs more attention from the policy makers. The funds generated from overseas investment and export of construction activities such as engineering consultancy and project management can be utilized in solving this problem in an efficient manner.
Yuen. J, (2014) Building and Construction Industry in Hong Kong .HKTDC RESEARCH Retrieved from: http://hong-kong-economy-research.hktdc.com/business-news/article/Hong-Kong-Industry-Profiles/Building-and-Construction-Industry-in-Hong-Kong/hkip/en/1/1X000000/1X003UNV.htm