Investigating the Impact of Economic Reforms on the Construction Cost Management System in China

Royal Institution of Chartered Surveyors (RICS)
Publication Type:
2012, pp. 1 - 60
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2012000803OK.pdf Published version2.05 MB
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The construction industry in China has undergone significant change over the past three decades as a result of economic reforms implemented by the Chinese government over this period. In 1978, the Communist Party of China declared China's economic reforms that saw a shift from a planned centrally controlled economy to an open-door economy that incorporated a gradual shift to a market driven system. The report examines the impact that these economic reforms have had on cost management practices in the Chinse construction industry. The report presents the results of a research project and the methodology includes an extensive literature review and data collection. Data collection involvles an industry survey in Tianjin and Beijing, project case studies in Beijing and the analysis of current project cost management documentation. The report examines the challenges and problems of cost engineering education, professional development and standards to develop recommendations to help address these issues and problems.
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