Specifics of Implementing Digital Technologies in Investment and Construction Projects in China

Abstract

This article presents strategic recommendations and implementation framework to promote the qualitative development of China’s construction industry based on digital innovation, with the aim of 1. Improving managerial competencies. 2. Reducing electricity consumption by applying the concept of energy saving. 3. Protecting the environment. 4. Building a solid foundation for future sustainable development. Through data analysis and complex analysis methods it was defined that the results of ICP implementation in China have always been criticized by the public due to careless management, high energy consumption and low production capacity. With the help of research methods, data description and review of existing research, the ways of introducing digital technologies in the implementation of ICP in China are set. Based on identifying the connection between digital technologies and the transformation of the construction industry, we analyzed the digital innovation level of development in the construction industry; suggested a strategic path for introducing innovations in digital technologies. With the development of digital technologies such as the Internet, big data, BIM and artificial intelligence, the use of informatization and digital tools, and the integration of advanced intelligent building technology and equipment, an intelligent and eco-friendly building model, the IoT full life cycle equipment resource model, and the core technology resource integration model, an improved and process-oriented construction management the following model will be gradually implemented. This study’s key is to define the effectiveness of digital technologies implementation to investment and construction projects (ICP) in China and to suggest the optimal direction for development of the Chinese construction industry.