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Welcome to Africazine

At Africazine, we're proud to be your Africa voice, delivering the latest news and stories that matter from the vibrant and diverse continent of Africa.

Welcome to Africazine

At Africazine, we're proud to be your Africa voice, delivering the latest news and stories that matter from the vibrant and diverse continent of Africa.

Welcome to Africazine

At Africazine, we're proud to be your Africa voice, delivering the latest news and stories that matter from the vibrant and diverse continent of Africa.

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“Exploring Year-End Trading Trends: December 2024 Insights from the Tokyo Financial Exchange”

Discover the latest insights on FX Daily Futures contracts, with a total trading volume of 1,531,579, reflecting a 14.8% month-over-month and 34.7% year-over-year decrease. Average daily trading volume stands at 69,619. Stay informed with Africazine.
HomeNewsChina’s biggest construction company grew new contracts by 10.6% in 2023

China’s biggest construction company grew new contracts by 10.6% in 2023

The recently completed fourth bridge in Abidjan, Ivory Coast The recently completed fourth bridge in Abidjan, Ivory Coast (Image: CSCEC)

China State Construction (CSCEC) grew the value of its new construction contracts by 10.6% in 2023, as compared to the year before.

That’s according to new figures unveiled by the company covering January to December last year.

It claimed that newly signed construction contracts for the period totalled CNY 3,872.7billion (US$544.4 billion).

The biggest growth area was infrastructure, where the value of newly signed contracts climbed 15.1% year on year to CNY 1,168.5 billion (US$ 164.3 billion).

Housing construction made up the bulk of newly signed contracts with 8.8% year-on-year growth to CNY 2,689.4 billion (US$ 378.1 billion).

The majority of contracts were in domestic construction, totalling CNY 3,697 billion (US$ 519.7 billion). Overseas construction contracts for the year totalled CNY 175.5 billion (US$ 24.7 billion).

Among work CSCEC has completed overseas recently is the construction of several office buildings in Egypt’s New Administrative Capital, which were officially accepted by Egyptian Prime Minister Mostafa Madbouly at a ceremony earlier this month.

CSCEC is also building the main terminal of Iraq’s Nasiriyah International Airport, visited recently by Iraqi Prime Minister Mohammed Shia’ Al Sudani, while in Ivory Coast the CSCEC-built fourth bridge project in Abidjan has just opened.