Engineering Machinery, Sany, Zoomlion, XCMG--China's Construction Machinery Industry To Grow At 17%

October 19 -- China’s construction machinery industry is estimated to grow at annual rates of 17 percent over the next five years, reports Shanghai Securities News, citing the 12th Five-Year Plan for Construction Machinery Industry. The plan, composed by the Ministry of Industry and Information Technology, will be officially published soon.

It estimates that China’s demand for construction machinery will hit 851 billion yuan by 2015, while sales volume of construction machinery will reach 900 billion yuan, including $20 billion in exports. China is also expected to become the largest construction machinery exporter in 2015.

XCMG Group, Changsha Zoomlion Heavy Industry Science and Technology Development (000157) and Sany Heavy Industry (600031) all plan to increase sales revenue to over 100 billion yuan by the end of the 12th Five-Year Plan period.

Source: Capital Vue