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

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

When interviewed by the Shanghai Securities News, industry insiders said that due to the low base in 2009, the third quarter performance of the construction machinery industry is expected to become the biggest highlight of the year.

According to data from the Federation of Machinery Industry, from January to August, the total value of industrial output of the machinery industry was 895.251 billion yuan, an increase of 35.31% year-on-year, an increase of 25.61 percentage points from the same period of last year, and its 12 sub-sectors all showed growth. .

Among the 12 sub-industries, the growth rate of the construction machinery industry is the fastest, followed by the machine tool industry, the automotive industry, the mechanical basic parts and the internal combustion engine industry. According to the Federation’s sources, “Compared to the same period of last year, the growth rate of the above five industries was above 35%.”

Deben Securities analysts believe that the growth of the performance of the construction machinery industry is mainly driven by road construction, civil construction, and follow-up to four trillion infrastructure projects.

The Federation's data also showed that among the 119 major products of this month's statistics, “the production and sales of construction machinery was the best in history.” From January to August, excavation and shovel transportation machinery products increased by more than 64.14% year-on-year. The compaction machinery increased by 76.78% year-on-year, and the growth of concrete machinery was slightly lower, a year-on-year increase of 13.44%.

For the longer-term development of the industry, Jun 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." (Reporter Li Yan Zheng)