Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Industries

Excavator segment digs in for long-haul success

China Daily | Updated: 2021-04-13 09:46
Share
Share - WeChat
A Xuzhou Construction Machinery Group employee walks past an array of excavators at a harbor in Lianyungang, Jiangsu province, in October. [Photo by Wang Chun/For China Daily]

BEIJING-Business has been booming for Chinese excavator makers since the beginning of the year, fueled by surging market demand and signs of economic rebound both at home and abroad.

In the first quarter, China's top 26 excavator makers sold a total of 126,941 digging machines, up 85 percent year-on-year, said the China Construction Machinery Association.

As new orders surged, excavator sales in February hit a record, the association said.

The figure, often regarded as a key barometer of the vitality of an economy, corroborated the country's better-than-expected economic recovery and solid fundamentals.

Business activity in China's manufacturing and services sectors has been picking up pace. The purchasing managers' index for the manufacturing sector came in at 51.9 in March, indicating further expansion from the previous month, said the National Bureau of Statistics.

In its latest World Economic Outlook, the International Monetary Fund on Tuesday projected that the Chinese economy will grow by 8.4 percent this year, 0.3 percentage point above its January forecast.

The robust pace of sales reflects strong demand for construction machinery and macroeconomic vitality in the first quarter, according to industry insiders.

"Going into the second quarter, infrastructure growth is expected to rebound, supporting a continued strong economic recovery," said Gao Ruidong, chief macroeconomist at Everbright Securities.

Ever-growing market

CCMA Chairman Su Zimeng said the sales boom of excavators can be attributed to China's huge economic growth capacity and massive infrastructure.

Under the country's coordinated regional development strategy, demand for infrastructure construction remains huge with continuous efforts to drive development of the Beijing-Tianjin-Hebei region, the Yangtze Economic Belt and the Guangdong-Hong Kong-Macao Greater Bay Area.

Official data showed that during the January-February period, investment in infrastructure and the manufacturing industry increased by 36.6 percent and 37.3 percent, respectively, year-on-year.

China has also been stepping up policy and fiscal support for "new infrastructure", which has been included in the country's 14th Five-Year Plan (2021-25).

From 5G big data centers to urban rail transit, the presence of construction machinery manufacturers remains crucial, generating sustained growth of China's construction machinery market in the future, Su said.

"At present, the excavator market is still on the rise, with equal stress on stock update and incremental demand. It can be predicted that high levels of prosperity will last for China's construction machinery industry, which will surely continue to grow steadily in the next five years," he added.

Saying that the country is experiencing a sped-up urbanization process with the future trend being the replacement of human labor with machines, Su added that Chinese construction machinery, represented by excavators, will embrace good development opportunities with their ever-expanding application scenarios.

For example, micro excavators, some of which are narrow enough to be driven through doorways, are becoming increasingly popular among Chinese buyers as they can function well in confined spaces and help in smart agriculture.

Going global

Chinese excavator plays have also been seeking a stronger global presence.

In the first quarter, the country's 26 leading excavator makers exported a total of 13,376 digging machines, surging 81.9 percent year-on-year, the CCMA said.

In Xuzhou, Jiangsu province, one of the country's top excavator manufacturers-Xuzhou Construction Machinery Group-saw over 200 units of its custom-made excavators ready on April 2 to be delivered to Europe, the United States and Australia.

While the global market faces mounting pressure of coronavirus-induced recession, overseas sales of the company's digging machines bucked the downward trend by gaining over 50 percent year-on-year in developed overseas markets.

Exporting machines to 187 countries and regions, the company reported annual exports of $1.6 billion last year, with overseas income accounting for about 30 percent of its total, according to Wang Min, chairman and CEO of XCMG.

With their research and development, production, brand and management system highly internationalized, some enterprises' competitiveness in overseas markets has improved by leaps and bounds, said Su, adding that China's exports of construction machinery totaled $21 billion in 2020 despite the impact of COVID-19.

The global economy is also on its way to recovery. Global growth this year is projected at 6 percent in the IMF's latest World Economic Outlook, higher than the previous forecast.

"Construction machinery, as a key industry of international production capacity cooperation, will see its vista of internationalization broadened," Su said.

Xinhua

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 大地资源在线资源官网| 日韩精品极品视频在线观看免费| 国产乱子伦一区二区三区| 99国产精品99久久久久久| 日本特黄特色aaa大片免费| 打开双腿粗大噗呲噗呲h| 国产无套粉嫩白浆在线| a级毛片毛片免费观看久潮| 日本乱偷人妻中文字幕在线| 亚洲国产精品午夜电影| 神尾舞高清无在码在线| 国产主播福利在线| 日本视频网站在线www色| 在线精品国产一区二区三区| 中文在线最新版天堂| 日韩精品一卡二卡三卡四卡2021| 亚洲熟妇无码乱子av电影| 精品无人区乱码麻豆1区2区| 国产在线观看麻豆91精品免费| 5╳社区视频在线5sq| 奇米四色7777| 中文字幕制服诱惑| 日韩人妻系列无码专区| 亚洲国产品综合人成综合网站| 爱做久久久久久| 午夜福利一区二区三区在线观看| 韩国精品福利一区二区三区| 国产精品毛片在线完整版| avav在线播放| 工囗番漫画全彩无遮拦大全| 久久亚洲精品成人av无码网站| 欧洲最强rapper潮水免费| 亚洲欧美一级久久精品| 狠狠躁夜夜躁无码中文字幕| 又大又硬又黄的免费视频| 金牛汇app最新版| 国产无遮挡又黄又爽高潮| 2021久久精品国产99国产精品| 在线观看污污视频| www.污网站| 成人777777|