China's excavator makers continue to see strong sales

BEIJING - China's excavator manufacturers continued to see strong sales in April, partly due to rising construction demand, according to China Construction Machinery Association.

China's domestic excavator brands and local branches of international brands together sold 14,397 excavators in April, up 101.1 percent year on year, the association said in a report.

The strong growth was mainly driven by domestic demand, while overseas sales rose only 4.2 percent year on year last month.

Over the first four months, total excavator sales rose 99.5 percent compared to same period year on year to 54,864 units, with the market share of Chinese brands at 49.83 percent.

The strong performance came amid the continued stabilization of China's economy and steady growth in fixed-asset investment.

China's economy expanded 6.9 percent in Q1, a strong start for the year, well above the annual target of around 6.5 percent, according to the National Bureau of Statistics.

Fixed-asset investment rose 9.2 percent in the first three months, higher than the same period year on year, while investment in equipment increased 9.9 percent.

Machinery demand will remain robust in the long term thanks to demand from domestic infrastructure construction and the Belt and Road Initiative will facilitate machinery exports, said Pan Yili, analyst with Shanghai-based Sinolink Securities.

Annual sales of excavators will exceed 100,000 this year, representing a rise of more than 40 percent year on year, the association forecast.