China's Real Estate to Boost after WTO Entry |
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China's real estate companies and building material manufacturers should base their growth on the needs of the market, which will enable them to withstand competition from overseas rivals, Deputy Director Shen Jianguo, from the department of international relations of China's Ministry of Construction, said Thursday in Shanghai. With China's accession to the World Trade Organization, more and more foreign building material manufacturers are coming to China, wanting their share of the big cake.
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China's real estate companies and building material manufacturers should base their growth on the needs of the market, which will enable them to withstand competition from overseas rivals, Deputy Director Shen Jianguo, from the department of international relations of China's Ministry of Construction, said in Shanghai on November 8.
Shen was in Shanghai for the National Association of Home Builders'(NAHB) international conference, "World Focus on Housing: China" which opened Wednesday.
With China's accession to the World Trade Organization (WTO), more and more foreign building material manufacturers are coming to China, wanting their share of the big cake.
Over 350 local and overseas experts and businessmen have gathered for the international conference on the housing industry, including a strong delegation of American experts from "The Voice of American Housing Industry," who came to China to try to break into the market and to promote bilateral cooperation in this field.
Speaking of the competition from overseas real estate companies, Cheng Guowei, chief of the science and technology section of Shanghai Zhuzong Housing Industrial Co., Ltd., said although the domestic real estate companies are weak in technology, they are more familiar with the local market than their overseas rivals.
The overseas real estate companies need a period to fit into the local market, which will give time for domestic companies to develop, Cheng said.
He said China's real estate companies should compete by stressing the local features in their products and should learn more about advanced technology from their competitors.
After China becomes a member of the WTO, more foreign building materials will be used in China's buildings for civil use, thus strengthening cooperation in this field as well, Cheng said.
Cheng added that he also hopes to find out more about any new advances in the US housing industry and through the conference to learn more about new technology and building materials.
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