Foreign Companies Eye China's Building Material MarketA national exhibition fair of building materials, which opened Wednesday inTianjin, attracted nearly 1,000 businesses from home and abroad.Almost half of the participants are foreign-funded enterprises or joint ventures. Of the products, two-thirds are from name brand companies. The activity is to exhibit the latest development of China's building material industry as well as developments on building materials. The annual fair has been held for eight consecutive years in Tianjin. It is considered the top annual meeting in China's building material industry. Building materials have become more common to the average person in China, as more people own apartments and houses. Statistics show that 35 big and medium-sized cities in China have sold 71.5 percent of their apartments to local residents. Demand for indoor decoration increases as apartments became private property. Chinese have spent over 120 billion yuan (US $14.5 billion) in decorating their homes last year, 40 times the figure for 1990, with an annual growth of over 45 percent. The four-day event will also hold activities on home decoration and a forum on WTO and China's building material industry. |
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