This study investigates the characteristics of the cost performance of megatransport infrastructure projects in Hong Kong and performs dependence analysis of cost overruns. It is based on 57 samples of road, rail, bridge, and tunnel projects over the period of 1985–2015 and pursues the following two objectives: (1) it measures the characteristics of cost overruns in Hong Kong megatransport infrastructure projects using case data and statistical analysis method; and (2) it examines three independent explanatory variables (i.e., project type, size of the project, and length of the project implementation period) and their statistical relationship with cost overruns to determine whether there exist differences between Hong Kong infrastructure projects and the worldwide findings. The results indicate that, in Hong Kong, projects on average have a cost escalation of 39.18% and the average cost overrun is 34.83% for rail, 32.52% for road projects, and 37.48% for fixed-link (i.e., bridges and tunnels) projects. The year of the decision to build has no effect on cost escalation. The major findings concerning the dependence of cost escalations are as follows. In terms of project type, rail projects are most prone to cost increase, followed by fixed-links, whereas road projects are the least vulnerable to cost escalations. Cost overruns have no significant relationship with project size, but for road projects, smaller scale projects tend to be more prone to larger cost overruns. The cost overruns strongly depend on the length of the implementation phase; cost escalations increase 1.35% with each additional year of preconstruction period. This indicates that the preconstruction phase length can be viewed as a better indicator of cost escalations compared to the construction length. This can be an essential contribution to the existing literature on cost overruns as the stage in which the infrastructures are most prone to cost escalations is considerably narrowed down. The practical implications of this study are that decision makers should focus on this period and pay more attention to delays and longer preconstruction phases if they want to determine the causes and solutions of cost overruns.

Productive building energy efficiency (BEE) work is an approved factor in the progress of sustainable urbanization in China, with the assessment of carbon emission reduction in China’s public buildings (CERCPB) being an essential element of this endeavor. Nevertheless, such evaluation has been hampered by inadequate and inefficient approaches; this is the first study to utilize the Logarithmic Mean Divisia Index Type I (LMDI-I) to decompose the equation of China’s public building carbon emissions (CPBCE) with the connected driving factors (population in China, floor areas of China’s existing public buildings, building service level index of China’s existing public buildings, and the comparable CPBCE intensity), and this equation was established by the Stochastic Impacts by Regression on Population, Affluence, and Technology (STIRPAT) model. The LMDI and STIRPAT approaches subsequently assessed the CERCPB values from 2001 to 2015. The results indicated that: (1) Only the contribution of the comparable CPBCE intensity to CPBCE was negative during 2001–2015; this represents the CERCPB value for the period. (2) The assessment results indicated that CERCPB has accumulated considerably with the swift progress of BEE work in China in 2001–2015. The CERCPB values in 2001–2005, 2006–2010, and 2011–2015 were 69.29, 158.53, and 277.86 million tons of carbon dioxide, respectively. (3) This study demonstrated that the positive effect of implementing public BEE work in China had led to significant results in 2001–2015, which can be regarded as a prerequisite for producing the considerable accumulation of CERCPB over this period. Overall, this study illustrated the feasibility of employing the LMDI and STIRPAT approaches for assessing the CERCPB value. Accordingly, we believe the results of this study are a significant driving force in the next phase of the development of the carbon emission control strategy of public buildings and sustainable urbanization in China.

The role of urban residential buildings (URBs) in the carbon reduction goal of China is becoming increasingly important because of the rising energy consumption and carbon emission of such buildings in the region. Considering the increasing spatial interaction of the carbon emission of URBs (URBCE) in the region, this study investigates the influence of climate and economic factors on the URBCE in North and South China. First, the URBCE is calculated by using a decomposition energy balance table based on the carbon emission coefficient of electric and thermal power, thereby improving the estimation of the basic data of URBCE. Second, the influence of economic and climatic factors on the URBCE intensity in 30 provinces of China is explored by using a spatial econometric model. Results show that the URBCE intensity in China had a spatial autocorrelation from 2000 to 2016. Climatic and economic factors have great differences in the degree and direction of influencing the URBCE intensity in the country. Formulating emission reduction policies for climate or economic zones is more scientific and effective than developing national policies. Among these factors, urbanization rate, climate, and GDP per capita have a significant positive impact on the URBCE intensity in the region, whereas other factors have varying degrees of negative impact. In addition, climate, consumption level, and building area have significant spatial spillover effects on URBCE intensity, whereas other factors do not pass the significance test. Relevant conclusions should be given special attention by policymakers.

Owing to China’s rapid urbanization and internal migration, public services are unevenly distributed in cities, affecting urban housing prices. This study examines the dynamic effect of China’s public service levels on urban housing prices. We used the entropy method to calculate the public service index of 30 cities in China and a panel threshold regression model to explore the relationship between urban public service levels and housing prices. We found that the degree of the effect of public service levels on urban housing prices varies with the per capita disposable income of urban residents, demonstrating an inverted U-shaped curve. The role of public services in promoting urban housing prices increases with the increase in the level of urbanization. When the level of urbanization exceeds its threshold, the enhancement effect increases. These results help us better understand the theories of housing price changes in Chinese cities and support policymakers in formulating effective control measures for the housing market.

Mega infrastructure projects (MIPs) have become increasingly important to the realization of sustainable development in China. Sustainable development is a process of dynamic balance, and coordinating the triple bottom line (the environmental, social, and economic dimensions) will enable more sustainable development of MIPs. However, previous studies have lacked consideration of coordination when applying sustainable development principles to the systematic identification of risks to MIPs. The goals of this study were to clarify the definition and dimensions of the sustainable development of MIPs and to identify the key risks of MIPs. A literature review was performed to extend the definition of sustainable development of MIPs by combining the triple bottom line with a fourth coordination dimension. A conceptual model of MIP risk identification was then proposed from an extended sustainable development perspective, 22 sustainability elements and 75 risk factors were identified, and the key risk factors were determined based on the interview responses and fuzzy set theory. The results show that economic risks have a high probability, social risks have a high loss, environmental risks have an intermediate probability and loss, and coordination risks have the greatest impact. In addition, the three most important key risk factors were found to be construction and installation cost overruns, land acquisition and resettling cost overruns, and information sharing with the public. Identifying key risk factors can provide information to help stakeholders understand the risk factors associated with MIPs and formulate reasonable risk response strategies.

Purpose: High risk is one of the most prominent characteristics of the Chinese construction industry, and it poses a significant threat to construction projects. Owing to initiatives aimed at achieving high efficiency, low carbon emissions, etc., industrialization of the construction industry has become an inevitable trend in China. However, it remains to be discussed whether industrialization of construction can reduce the risks entailed in construction projects compared with traditional construction. The paper aims to discuss these issues. Design/methodology/approach: Based on the theory of risk life cycle, this paper proposes a practical risk assessment technique to assess the risk life cycle, including the risk occurrence time and potential financial losses. This technique is then applied to assess the differences between the risks involved in an engineering, procurement and construction (EPC) project executed via traditional and industrial production modes. Findings: The results show that the total duration of risks in the industrial construction project is half of that in the traditional project. In addition, the expected financial loss entailed in the industrial construction project is 29 percent lower than that in the traditional construction project. Therefore, industrial construction has the potential to optimize risk performance. Originality/value: There is no significant difference between the traditional and industrial construction models in terms of probability of risk. The maximum total loss might occur in the procurement stage in the case of industrial production, and in the construction stage in the case of traditional production. Moreover, the total expected loss from risk in the EPC project in the industrial production mode is only half of that in the traditional production route. This study is expected to provide a new risk evaluation technique and promote an understanding of the life cycle of risk management in the construction industry.