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Excavator sales doubled in August
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CHINA’S sales of excavators doubled in August from a year ago and sales have grown over 100 percent year on year each month since January due to the government's increasing investment on infrastructure.
In August, 7,952 of the 8,714 excavators sold were for the domestic market, up 106.1 percent from a year ago, while overseas sales rose 49.6 percent from a year ago to 757, said China Construction Machinery Association.
Over the first eight months this year, China has sold 91,439 excavators, up 101.1 percent from a year earlier.
The robust sales came after the government boosted investment in infrastructure nationwide. Over the first seven months domestic infrastructure investment jumped 20.9 percent annually to 7.2 trillion yuan (US$1.1 trillion). Meanwhile fixed-asset investment in highways and railways soared 27.8 percent from a year ago to 1.1 trillion yuan, according to the National Bureau of Statistics.
Huatai Securities said that China is relying on infrastructure spending to support expected economic growth of 6.5 percent this year to offset the slowdown in the real estate industry.
West China led all regions by boosting its infrastructure spending 26.3 percent from a year ago over the first seven months, following the government’s call to develop poor and remote areas.
China’s heavy machinery tools makers also benefitted from the infrastructure investment by growing their sales volume of loaders by 37.6 percent and bulldozers by 36.9 percent the first seven months annually.
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