China's construction machinery industry's third-quarter profit will reach the high point of the year

The reporter learned from the China Machinery Industry Federation on the 12th that from January to August, China's machinery industry production and sales continued to maintain rapid growth. Among its 12 sub-sectors, the construction machinery industry grew at the fastest rate.

Industry insiders said in an interview with Shanghai Securities News that in view of the low base in 2009, the performance of the construction machinery industry in the third quarter is expected to be the biggest highlight of the year.

According to the data of the Machinery Industry Federation, from January to August, the total industrial output value of the machinery industry totaled 89,552.151 billion yuan, a year-on-year increase of 35.31%. The growth rate was 25.61 percentage points higher than that of the same period of last year. The production of 12 sub-sectors showed growth momentum. .

Among the 12 sub-sectors, the construction machinery industry has the fastest growth rate, followed by the machine tool industry, the automotive industry, the mechanical base parts and the internal combustion engine industry. According to the association, "the growth rate of the above five industries is more than 35% compared with the same period of last year."

Debon Securities analysts believe that the growth of the construction machinery industry is mainly driven by road construction, civil works and the follow-up of 4 trillion infrastructure projects.

The data of the Federation also showed that among the 119 major products counted this month, “the production and sales of construction machinery was the best in history.” From January to August, the excavation and earthmoving machinery products increased by more than 64.14%. Compaction machinery increased by 76.78% year-on-year, and concrete machinery growth was slightly lower, up 13.44% year-on-year.

For the longer-term development of the industry, Yu Jun, president of the China Construction Machinery Industry Association, predicts that “by 2015, the market size of China's construction machinery industry will reach 900 billion yuan.”

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