Development

Its curtains for China's tallest building

By Wu Yong and Liu Ce (China Daily Liaoning Bureau)
Updated: 2011-03-07 16:25

The company behind China's soon to be tallest building has inked a deal with the nation's leading manufacturer of curtain walls and windows for 500 million yuan.

Yuanda Group signed the deal with Shanghai Tower on March 4 in Shenyang, northeastern China's Liaoning, indicating the 632-meter-high tower, with 10 billion yuan investment is on target to be completed in 2015 and become a new icon in the city.

Although 500 million yuan is less than one tenth of the whole investment, it implies the nation's ongoing fantasy with construction.

In fact, both the number and height of skyscrapers continues to shoot up setting records in the past decade during China's urbanization.

According to Financial Times, a report produced by PwC, Global Construction and Oxford Economics shows China ploughed more than one trillion into new building projects last year. That has propelled the country to the top of global construction league, overtaking the US for the first time.

Additionally, the report predicts a decade-long shift in the construction industry from the mature markets of the US, Japan and Europe to China, India and a clutch of smaller emerging economies. And China will account for a fifth of the world's building industry by 2020, compared with 14 percent today.

The ongoing housing boom stirs the industry both from home and abroad, including Sany Heavy, Yuanda, Komatsu.

It took Yuanda 18 years to propel from zero to industry tycoon. They have been involved in many iconic projects including the Beijing's Bird's Nest and Water Cube, Burj Dubai, Japan's COCOON and Germany's Frankfurt Airport.

The company's international reputation is growing and offers inspiration to other sectors.

The global market contributes almost 50 percent of its revenue, which sets a model for many other Chinese counterparts who are seeking more international shares.