China's machinery & equipment sector soars under B&R

With a batch of projects under the Belt and Road Initiative under construction, China's construction machinery exports surged in the first half of 2017, the Economic Daily reported on Tuesday.

Amid the strong recovery of the global economy in the first half of 2017, growth of the major economies was above their performance in 2016, leading to the booming international machinery market. Particularly, the machinery market in emerging economies grew by 20 percent.

Thanks to the strong market demands, China sold a total of 70,821 excavators in the first half of 2017, up 110.3 percent year on year, exceeding the annual sales in 2016.

The Chinese construction machinery market has soared since the beginning of 2017, with loader, excavator, road roller, grader, bulldozer, crane and forklift sales growing significantly.

According to statistics released by iFinD, 291 of 317 machinery and equipment listed companies posted positive net profits. To be specific, 56 companies each posted a net profit of more than 100 million yuan. CRRC, CNPC Capital, Sany and Zoomlion were the top four profit-making enterprises with a net profit of 3.673 billion yuan, 3.589 billion yuan, 1.160 billion yuan and 1.132 billion yuan, respectively. Of the 317 companies, 231 posted a year-on-year net profit growth.