The purpose of this paper is to clarify the possibilities and methods of applying the IFC standard, the mainstream standard of BIM technology, in the cost estimation in China. Though analyzing the existing standards and the IFC standard, the problems for using the IFC standard are identified and the solutions are explored. A cost estimation information requirement model which includes seven aspects of information was established. Each aspect of the information is expressed by using IFC to verify the completeness of the IFC standard. As a conclusion, the IFC standard can be used to express the information for the cost estimation in China as a whole and the established model can be applied in the development of software for cost estimation of construction.