Research On Capacity Utilization And Adjustment Path Of China’s Construction Industry

As a pillar leading industry,the construction industry has been in the state of demand pulling supply for a long time,the factor input is too rigid,and its supply structure has low adaptability and flexibility to the change of demand.There is a consensus of overcapacity in the construction industry,but there is little quantitative research on the capacity utilization level of the construction industry.Based on this,this paper uses the static and dynamic SBM model to measure the capacity utilization rate of the construction industry,and then uses the System GMM method which can solve the problem of endogenous variables to investigate the impact of investment proportion,technology level,economic fluctuation,market competition,state-owned proportion,labor employment and government intervention on the capacity utilization rate.Finally,an absorption framework model based on the construction industry capacity is constructed,the conclusions are as follows:(1)From the perspective of industry,the problem of overcapacity in China’s construction industry is not serious,but there are backward production capacity that can not be ignored;from the perspective of regional differences,inter group differences are the main source of regional differences in the utilization level of construction capacity,so we should focus on the overcapacity in the western and northeast regions;from the perspective of economic types,we should not stick to the old situation of low utilization level of state-owned enterprises From the perspective of qualification categories,the capacity utilization level of general contracting enterprises is higher than that of professional contracting enterprises,but the latter has stronger dynamic adjustment ability.(2)The causes of overcapacity in the construction industry are complex,which is the abnormal product of rational and irrational investment and production decisions of micro enterprises under the joint action of deep government intervention and market mechanism.From the perspective of influencing factors,the capacity utilization level of construction industry is positively correlated with economic fluctuation,stateowned proportion and technology investment,and negatively correlated with investment proportion,market competition,previous level,employment and government intervention.(3)From the perspective of production and demand,this paper analyzes the absorption path of construction capacity.Innovation and upgrading is the only way to resolve backward production capacity.Strategic reform can make construction products more adapt to the current demand,expand overseas markets,increase market share in space,and improve the sensitivity of financial policy,which can help enterprises avoid investment risks caused by unnecessary production.