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Engineering Machinery Association: China's engineering machinery market sees rapid growth
Qi Jun, president of the China Construction Machinery Industry Association, stated at the "BICES 2019 Countdown 100-Day Press Conference" on the 29th that the Chinese engineering machinery market has experienced rapid growth in the past two years, and is expected to increase by another 10 percentage points or so in 2019 compared to 2018. Qi Jun indicated that the total sales of major products in China's engineering machinery industry increased by 25.5% in 2018. In the first quarter of 2019, the engineering machinery market continued to perform well, with total sales of major products increasing by 15.2%. Statistics show that in April 2019, the 25 excavator manufacturers included in the statistics sold various excavators with a year-on-year increase of 7%; the 22 loader manufacturers included in the statistics sold various loaders with a year-on-year increase of 6.26%. It is estimated that the total sales of major engineering machinery products in 2019 will increase by about 10 percentage points compared to 2018. In Qi Jun's view, the achievements made by China's engineering machinery industry are inseparable from the good overall economic environment in China. The Chinese government's reduction of the value-added tax rate for industries such as manufacturing, construction, and transportation has brought policy benefits and radiation effects to the manufacturing, construction, and related industries, which will provide strong support for the stable development of the engineering machinery industry in 2019 and the following years. The engineering machinery industry is closely related to infrastructure construction. Qi Jun believes that the Xiong'an New Area is about to enter a large-scale, substantive construction phase; China's fixed asset investment in highways, waterways, and railways has also increased significantly in 2019; and China will further promote the implementation of a number of infrastructure construction projects involving the Beijing-Tianjin-Hebei region, the Yangtze River Economic Belt, the Guangdong-Hong Kong-Macao Greater Bay Area, and the central and western regions. Qi Jun stated that the above-mentioned infrastructure construction and livelihood projects will create a huge demand for more environmentally friendly and efficient engineering machinery equipment. This is an opportunity for engineering machinery manufacturers worldwide and a guarantee for the continued growth of China's engineering machinery market in the future.
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