Research on the Economic Effects of Transformation and Upgrading in the Construction Industry under the New Development Paradigm

Luowen Chen

doi:10.54097/j02vwq70

Authors

Luowen Chen

DOI:

https://doi.org/10.54097/j02vwq70

Keywords:

Construction industry, Transformation and upgrading, New development paradigm, Economic effects, Industrial modernization, High-quality development

Abstract

Under the new development paradigm in which domestic and international circulation mutually reinforce one another, the transformation and upgrading of the construction industry has become a vital pathway for enhancing industrial quality, boosting productivity and promoting steady economic growth. This paper investigates the economic effects of the transformation and upgrading of the construction industry within this new development paradigm. Drawing on industrial economics, high-quality development theory and supply-side structural reform, a three-factor driven model comprising policy guidance, technological progress and market pressure is constructed, utilising panel data from 2019 to 2023 to conduct quantitative measurement and regression analysis. The results indicate that industrial transformation significantly enhances resource allocation efficiency, stimulates technological innovation, optimises the employment structure, strengthens industrial linkages, and promotes green and low-carbon development; policy and technological factors are the core drivers, whilst market pressures act as a key catalyst; the full realisation of economic effects depends on digital integration, policy coordination, institutional reform, and the enhancement of enterprise capabilities. The transformation and upgrading of the construction industry is not merely an internal adjustment within the sector itself, but also a vital pillar for building a modern industrial system and enhancing the long-term resilience of the economy.

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