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Facing up to 'challenges'
By Richard Fu |
May 16, 2012, Wednesday
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Print Edition
Print Edition
CHINA'S construction market faces "challenges" to stay at last year's level as a slowing economy curbs demand, but the president of Volvo's construction gear unit eyes an improved second half for the market.
China's economic growth, which slowed to the least in almost three years last quarter, has curbed construction demand from property to railway, putting pressure on sales of domestic leader Sany Heavy Industry Co and overseas firms like Sweden's Volvo and Japan-based Komatsu Ltd.
So there are "challenges" for China's construction equipment market to stay at last year's level. But Luo Dong, Volvo Construction Equipment's president for China, expects it to get better in the second half of the year as the economy may bottom out in the current quarter.
China's economic growth, which slowed to the least in almost three years last quarter, has curbed construction demand from property to railway, putting pressure on sales of domestic leader Sany Heavy Industry Co and overseas firms like Sweden's Volvo and Japan-based Komatsu Ltd.
So there are "challenges" for China's construction equipment market to stay at last year's level. But Luo Dong, Volvo Construction Equipment's president for China, expects it to get better in the second half of the year as the economy may bottom out in the current quarter.
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