BUSINESS China's excavator sales hit record high in March

BUSINESS

China's excavator sales hit record high in March

Xinhua

19:12, April 12, 2020

BEIJING, April 12 (Xinhua) -- China's excavator producers reported record sales in March as production resumption accelerated nationwide, industry data showed.

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Photo: CGTN

Total excavator sales hit a record high of 49,408 last month, up 11.6 percent year on year, according to the China Construction Machinery Association.

In breakdown, 46,610 excavators were sold in the domestic market, up 11.2 percent, while exports of the equipment rose 17.7 percent to 2,798.

Sales of excavators are an important indicator of the vitality of an economy as demand is usually backed by growth in mining and infrastructure development.

As the novel coronavirus outbreak has been largely contained in China and the production resumption of companies and factories accelerated, the demand for excavators rose substantially in March, said the association.

It predicts sales will climb to a new high in April when virtually all major infrastructure projects will resume construction.


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