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Chinese contractors seeking customers in Europe

Staff writer |
Chinese overseas contractors are actively seeking new customers in markets they previously had less involvement with as total revenues surged by 17.6 percent in 2013 compared with a year ago, a national trade organization said.

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Chinese contractors gained more than $137 billion in revenue throughout last year, according to China International Contractors Association, the largest industry organization in the country.

Although the major customers remain in Asian and African markets, demand from countries such as the United Kingdom, Germany, Brazil and Mexico has rapidly jumped. Chinese companies have signed $11.4 billion worth of contracts in Europe, a jump of nearly 32 percent year-on-year, according to Zhang Xiang, a spokesperson with the association, reports China Daily.

In Latin American markets, construction deals in infrastructure, harbor and oil refinery sectors were played a leading role. The value of new contracts signed increased by 25 percent year-on-year to more than $18 billion in that region, according to the association.

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