China's super beauty into the world's number one building power

2010 investment in more than 1 trillion U.S. dollars lead will continue to increase in 2010, China invested more than $1 trillion trillion in new construction, and the real estate boom pushed China to become the world's biggest building power, according to the Financial Times.　　Demand for government stimulus boosted raw materials and labor costs, and China's construction spending soared during 2010, the report said.　　Meanwhile, construction prices in the United States fell steadily during the recession, and last year the US invested 983 billion dollars in construction projects, down from $1.5 trillion in 2005.　　The report, published by the Global Architecture Observatory, PwC and Oxford, predicts that China's lead will continue to increase by 2020, when China will account for one-fifth of the world's construction industry, above its current 14% per cent.　　Greheum Robinson, director of Global Architecture Watch, said this was a real turning point for the construction industry, where the former powers had been pushed aside and it would be decades before China could lose its status as the biggest spenders in the construction industry, whether in terms of residential, commercial or infrastructure projects. Housing construction accounted for 57% of China's total construction expenditure in 2010.　　But China's housing construction growth is expected to slow as Beijing tries to stop the housing bubble.　　By contrast, growth is likely to be driven by greater government spending on new projects in railways, roads and power infrastructure. Global construction spending is expected to reach $97.7 trillion trillion over the next decade. India will also invest heavily.　　It is predicted that India will overtake Japan as the third largest building power in the world.　　The report said that China overtook Japan to become the world's second-largest economy while winning the global construction industry, highlighting a trend, the focus of construction from the United States, Japan and Western Europe and other mature markets to China, India and other emerging economies.　　The growth of building activities in China and India has brought positive benefits to domestic and international construction groups. Compiling/Money industry reporter Lishiang Wangjin rain