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Construction machinery industry still have a good prospective in spite of depression in last year

According to the data released by the China Construction Machinery Association (CCMA), in January 2013, the eight main product production and marketing of construction machinery industry grew by 23.15 percent year on year. However, it cannot be judged as the true overall recovery of the industry, for the primary cause of the growth in production and sales lies in that the data of the same period of last year was not high. As the pulling effect of the policy has been fully spread, the construction machinery industry will continue to grow steadily this year.

From March 2011, downturn of China's construction machinery industry has continued for 24 months. Five listed enterprises of the construction machinery industry disclosed their 2012 annual reports, showing that they obtained the net profits of RMB10.186 billion Yuan in total, down 18.37 percent year-on-year; achieved the operating incomes of RMB98.032 billion Yuan, down 4.29 percent compared with the same period of last year. Data of CCMA shows that the overall sales revenue of 13 major enterprises in China is RMB369.86 billion Yuan in 2012, 3.68 percent lower than that in 2011; profits is decreased by 34.1 percent, equal to RMB22.343 billion Yuan. Meanwhile, the overall profit margin of the construction machinery industry drops to 6.04 percent in 2012 from 8.83 percent in 2011.

From the perspective of the domestic market, massive infrastructure investment a few years ago provided opportunities for the development of the construction machinery industry; however, domestic market demand shrank quickly in 2012. Although new infrastructure projects have been launched at the end of last year by the State, some lag exists in the pulling effects. While according to the international market, exports of construction machinery products are increasingly under the influence of international trade friction.

In the industry downturn, many problems accumulated in the process of rapid development in the past are emerging. Key technologies of construction machinery industry continue to be controlled by foreign enterprises, Chinese enterprises are lack of capital, human and material resources to put into the product research, most construction machinery enterprises are still weak in innovation capacity and lack of independent intellectual property rights. There are greater gaps between the products made in China and foreign products of the same kind in both durability and reliability.

At present, the construction machinery industry is stressed in the stage of adjustment, but it is indeed not the case of new beginnings to rebound. The enterprises should take advantage of "down times" to focus on speeding up transformation of development mode, strengthen technical innovation, and follow the sustainable development in order to meet the arrival of the market downturn.

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