Abstract
Report Scope and Methodology
This report about the China asphalt markets examines China' s macroeconomic
trends, investment environment, construction industry structure and
capacities, production and demand, end-user market consumption trends,
distribution channels and industry participants. Long-term forecasts for major
asphalt production and demand are included. The report contains over 49 tables
and charts. Key producers of asphalt are profiled. More than 40 top Chinese
asphalt producers are listed in the producer directory section.
Most primary and secondary research was done in China in order to access
up-to-date government regulations, market information and industry data. Data
is collected from the Chinese government publications, Chinese construction
industry associations, local governments' construction industry bureaus, and
the Internet web. Interviews are conducted with Chinese industry experts, and
asphalt producers in China.
Historical data includes the data for the year of 1996, 2001 and 2006.
Long-term development trends are projected to the years 2011 and 2016.
Economic models and quantitative methods are applied in this report to project
market demand and industry trends. Metric system is used and values are
presented in either yuan (RMB, current price) and/or US dollars. Exchange rate
for 2006 is based on the annual average rate (7.9 yuan per US dollar). The
word "demand" is used interchangeably with "consumption". Totals may not add
due to rounding.
Executive Summary
China has experienced over two decades of high economic growth, which has been
stimulated by the consecutive increases of industrial output, consumer
consumption and capital investment. China' s GDP has been growing at 11% per
annum. National industry output has been advancing at 10.3% annually and will
continue to sustain a strong growth into the next decade. The fast-growing
middle class is creating an enormous consumer society. As the fastest-growing
economy in the world, the emerging market has attracted the attention of
investors and corporations around the world for the last two decades.
To deepen the reform of state-owned enterprises is a long-term task and needs
great efforts. The reform of state-owned economy has witnessed rapid changes
in both economic and social aspects. The introduction of foreign advanced
technology and capitals will continue to be favored by the Chinese government
and business community. New ways will be adopted to utilize foreign
investment, including mergers, acquisition, and investment funds and
securities investment. China will continue to improve its investment
environment in the areas of legal system, intellectual property protection,
foreign trade and investment regulation, infrastructure and financial system.
China is the second largest foreign investment recipient after the United
States in the world today. Given its vast market, the country provides
tremendous opportunities for investment and trade both for the present and
future.
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