Sales of excavators surge 54%
Print Edition
Sales of excavators in China surged 54 percent in January from a year ago as infrastructure investment grew, signaling a rebound in the heavy machinery sector, the China Construction Machinery Association said.
Over 4,500 excavators were sold in January, in line with a 17.4 percent rise in infrastructure investment totaling 11.9 trillion yuan (US$1.7 trillion) last year, the association said yesterday.
The rebound also helped shares of Shenzhen-listed XCMG Construction Machinery Co rise by the daily limit of 10 percent to 3.80 yuan, and Shanghai-listed Sany Heavy Industry Co gain 1.66 percent to 7.36 yuan.
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