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Chinese construction firms in reform

Author

Listed:
  • Dansong Wang
  • Ahmad Hadavi
  • Raymond Krizek

Abstract

Since the economic reforms that began 20 years ago, and especially with the enterprise reforms in recent years, ownership of Chinese construction firms has evolved from traditional state and collective ownership towards a mixed economy characterised by diversified ownership forms. Based on a questionnaire survey and personal interviews with individuals from firms representing four types of ownership, it has been determined that the majority of Chinese construction firms have already embraced commercial objectives and behaviour patterns similar to those of typical firms in developed market economies. Nevertheless, despite the important progress that the reforms have made, this study indicated that various construction firms during this transition are suffering serious difficulties caused by the former planned system and underdeveloped market mechanisms. Unfair practices were found to be quite serious in the construction market. Major problems stem from clients' abnormal behaviour in forcing the price down, asking contractors to finance a project wholly or partially during its construction, and delays in payment; these actions have caused severe financial difficulties to Chinese firms and seriously disrupted the normal order of market stability.

Suggested Citation

  • Dansong Wang & Ahmad Hadavi & Raymond Krizek, 2006. "Chinese construction firms in reform," Construction Management and Economics, Taylor & Francis Journals, vol. 24(5), pages 509-519.
    • Handle: RePEc:taf:conmgt:v:24:y:2006:i:5:p:509-519
    DOI: 10.1080/01446190600704810
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    Citations

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    Cited by:

    1. Ya Wang & Lihua Zhou, 2016. "Assessment of the Coordination Ability of Sustainable Social-Ecological Systems Development Based on a Set Pair Analysis: A Case Study in Yanchi County, China," Sustainability, MDPI, vol. 8(8), pages 1-20, August.
    2. Kunhui Ye & Weiyan Jiang & Liyin Shen, 2008. "Project competition intensity (PCI) in the construction market: a case study in China," Construction Management and Economics, Taylor & Francis Journals, vol. 26(5), pages 463-470.
    3. Hao Lu & Pardis Pishdad-Bozorgi & Guangbin Wang & Yingxia Xue & Dan Tan, 2019. "ICT Implementation of Small- and Medium-Sized Construction Enterprises: Organizational Characteristics, Driving Forces, and Value Perceptions," Sustainability, MDPI, vol. 11(12), pages 1-20, June.
    4. Ling Yi & Zengxiang Zhang & Xiaoli Zhao & Bin Liu & Xiao Wang & Qingke Wen & Lijun Zuo & Fang Liu & Jingyong Xu & Shunguang Hu, 2016. "Have Changes to Unused Land in China Improved or Exacerbated Its Environmental Quality in the Past Three Decades?," Sustainability, MDPI, vol. 8(2), pages 1-15, February.
    5. Puying Li & Simon Huston, 2015. "International Competitiveness of ChinaÕs Construction Firms," ERES eres2015_67, European Real Estate Society (ERES).

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