Sales of major heavy equipment recorded double-digit growth in China last year
China continues to grow even though 2018 saw trade war conflicts with the United States. Among the sectors that saw the most growth is the sales of the main heavy equipment, including excavators and loaders, which recorded double-digit growth.
This was confirmed by Lyu Ying, deputy general secretary of the China Construction Machinery Association. In particular, according to data from 25 producers, 2018 saw a total of 203,420 excavated machines sold, an increase of 45% on an annual basis and registering a new record. Most sales were made on the domestic market, with exports accounting for less than 10% of the total.
Heavy trucks and bulldozers have reported substantial sales and loader sales have gained as much as 22 percent in 2018.
Lyu explains that growth has been driven mainly by national projects and upgrades of construction company equipment, and China is also accelerating the approval of infrastructure projects to stabilize investments and strengthen the economy. So new work that requires new equipment. Lyu expects the industry to maintain steady growth this year, with total sales growth of 10 percent.
The main economic planner approved the construction of seven projects, such as long-distance railways and a hydroelectric station, with a total investment of 485 billion yuan (US $ 71.75 billion) this year.
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