Construction machinery industry is the modernization of national infrastructure for the provision of the basic industries of mechanized equipment. Engineering machinery involved in infrastructure projects, mainly roads, railways, water conservancy, water transport, aviation, construction of municipal investments. Countries in 2008 to stimulate domestic demand 4000000000000 initiatives for the formation of good construction machinery industry, construction machinery industry benefit from it. Entered in 2009, engineering machinery industry began to appear signs of recovery.
The industry's most difficult period is over
At present, China's urbanization level is 44.9%, world average is 49%, high-income countries 78%, transport, housing and other areas still require substantial investment, construction machinery industry is still a broad scenarios. Swept through the global financial crisis, the global economy has entered a slump, China's construction machinery industry is also affected, especially in 2008 industry sales in recent months 11,12 in the "shock." Crisis, engineering machinery industry opportunities and challenges, as a result of China's construction machinery industry is in a take-off stage, China's construction machinery industry is the opportunities outweigh the risks.
Judging from the current situation into the traditional peak season for the industry, steel prices have fallen very sharply, and the effect of investment in infrastructure to begin pulling the embodiment of the real estate market began to stabilize, easing credit and other factors have tended to support the construction machinery industry to improve. Although the future uncertainties still exist, such as the fields of real estate is still no clear signs of reversal, but the industry's most difficult period is over, industry is now at the bottom of the second half of the industry in 2009 will enter the stage of economic recovery.
The actual growth rate of fixed asset investment continued to improve
In March, with the various types of projects to start or continue a large-scale construction of urban investment in fixed assets reached 1.3 trillion yuan, the nominal growth rate of 30.3%. In March, due to the cost of raw materials continued to decline, coupled with increased competition and other factors have led to industrial finished goods prices to varying degrees, continue monthly decline in the PPI index. These two factors lead to cities and towns throughout March the actual growth rate of investment in fixed assets reached 36.3 percent, hitting a new high over the past year. Investment in fixed assets in March to raise the actual growth rate for the same period in the domestic construction machinery provide a favorable environment for the domestic market environment.
In addition, the recent State Council executive meeting discussed and passed in principle "on the deepening of economic reform in 2009 the views of the work," decided to adjust the fixed assets, the ratio of capital investment projects. In specific industries to reduce the urban rail transit, coal, airports, ports, coastal and inland water transport, railways, roads, housing, postal services, information industry, potash fertilizer, such as project capital ratio to increase at the same time belong to the "two high-capital" of calcium carbide, ferroalloy, caustic soda, coke, electrolytic aluminum projects, as well as phosphorus, corn deep processing of the ratio of capital projects. Project reduced the proportion of capital projects reduces the threshold of the funds will help advance the project process in order to expand investment in fixed assets, driving the demand for related equipment, machinery and therefore the formation of good. Especially in urban rail transit, coal, airports, housing and other projects will be used for engineering, railway equipment and other machinery. We believe that this will help the next few months the domestic implementation of the original project. The next few months, urban fixed asset investment growth will remain high. This is the next few months of domestic engineering machinery favorable.
Pick up the real estate market to constitute a good trade
Construction machinery industry needs about 30% from the real estate market. The trend of the real estate market boom of the construction machinery industry can reverse a greater impact. The first two months of 2009, the national real estate investment in fixed assets of 0.3 trillion yuan, an increase of 4.9%; the country started in real estate area of 110,000,000 square meters, up 14.8 percent decline, according to these data, the real estate market outlook is not optimistic. However, 1-2 months in 2009, first-line transaction data have to enlarge the city, as represented in the mainstream of Vanke property sales improved. Qilu Securities in accordance with the views of the real estate researcher: a small peak of the current transaction may not be able to survive the future there will still be repeated, but the industry's most difficult period is over, the future will be in the process of a bottom. We believe that, although it is now difficult to judge whether the housing market specific economic reversal, but will help boost the volume to enlarge the confidence of the market, real estate is expected to increase in new projects, construction machinery industry can benefit from it.
PMI manufacturing index continues to rise
Since the end of 2008, the Mainland has been continuously manufacturing PMI index rose in March at the first time in more than 50% to 52.4%. This indicates that the domestic economy has started to bounce back.
April manufacturing PMI was 53.5%, 1.1 percentage point increase the previous month. Machinery industry sub-sectors of transport equipment manufacturing industry, electrical machinery and equipment manufacturing industry, general equipment manufacturing industry, special equipment manufacturing industry is higher than 50%. Overall, the current machinery of production and efforts to recover more than the downstream demand for other manufacturing industries, the state has increased investment in machinery industry to boost domestic demand has begun to show effects, degree of machinery industry is improving the economy.