I. Chinese Construction machinery Industry Development in 2007
With the strong demand in both domestic and international markets,Chinese construction machinery industry was developed rapidly in 2007 and industry-wide sales reached 222,300,000,000 yuan (RMB) with a 37% increase over 2006 (RMB 162,000 yuan); total profit is 17.5 billion with the a increase by 48%.
The sales conditions of main construction machinery products in 2007 are in the table below:
In term of import and export,Chinese construction machinery import and export trade was in high-speed growth in 2007,the total amount of import and export reached 13.64 billion U.S. dollars with a 52.6% increase over the previous year; of which the imports were 4.94 billion U.S. dollars with a 25.7% increase; exports were 8.7 billion U.S. dollars with a 73.5% increase; trade surplus was 3.76 billion U.S. dollars. The total exports accounted for 27.4% of the industry-wide sales.
In 2007,China's imported complete engineering machines were equivalent to 3.1 billion U.S. dollars with a 19% increase; parts were equivalent to 1.84 billion U.S. dollars with a 38.7% increase. The mainly imported products (above 0.1 billion U.S. dollars): including excavator,tunnel boring machinery,elevator and ladder,forklift,crawler crane etc.; the machinery with rapid import growth (an increase of more than 50%) includes bulldozer,scraper,all-terrain crane and container forklift etc.
In 2007,China's exported complete machines of construction machinery were equivalent to 5.88 billion U.S. dollars with an 83% increase; parts were 2.82 billion U.S. dollars with a 56.9% increase; export proportion of complete machine is on the rise year by year. The mainly exported products (more than 0.1 billion U.S. dollars) include excavator,crawler crane,tower crane,truck crane,motor grader,elevator,loader,roller,bulldozer,concrete truck mixer,manual handling vehicle and wind power tool.
Import and export conditions of partially main construction machinery products are as follows:
Status of import and export area
In 2007,China imported construction machinery from 67 countries and areas,which was highly concentrated on a few countries. The value of imports of three countries,Japan,Germany and Korea,which ranked the preceding three,accounted for 69% of the total value of imports. However,the export destinations were widespread. In 2007,China exported construction machinery to 200 countries and areas. And the destinations were mainly in Asia whose value of exports accounted for 47.8% of the total,in the next place,in Europe,accounted for 24.2% and the followings were North America,Africa,Latin America and Oceania. The countries whose value of exports ranked the preceding three were America,Japan and Russia,which accounted for 22.2%. And the countries whose export increased quickly were Russia,Algeria,United Arab Emirates,Saudi Arabia,India,Kazakhstan,Vietnam,Iran,South Africa and Brazil.
The preceding 10 countries and areas to which China imported and exported construction machinery in 2007 are as follows:
The development characteristics of construction machinery of China in 2007:
1.Large increase extent. The increase of both amount of sales and exports set new records. The situation of enterprise profitability greatly looked up and the profit rate of the whole industry reached 7.8%. Besides,part of main enterprises’ competence and operating level were improved to some extent.
2.The international level of the industry was advanced. In 2007,the enthusiasm for exploiting international markets ran up among the whole industry and the large increase extent of exports became the important reason for sale increase. When the foreign enterprises continue to invest,merge and exploit business,some Chinese enterprises also begin to invest and establish factories in places such as North America,Central Asia,Australia and Southeast Asia to start the international development course. For example,Sany established the research,development and manufacture base in North America and LiuGong established the loader manufactory in India and so on.
3.Enterprises merged and restructured,and the establishment of factories in other places was in the ascendant. The enterprises such as XCMG,ZOOMLION,SANY,LiuGong,XGMA established branches or purchased enterprises in the north one after another and the manufacture and operation pattern of the industry was changing. The mergence resulted in the extension of enterprise scale and product scope and the factories were established in other places to be closer with the user and material place,reduce the transportation cost and improve the competitive power of enterprises.
4.The pace of new product development was sped to follow the market demand tightly. Due to the demand of China high speed railroading and construction of large architectures,the development pace of many kinds of new products such as the crawler crane with a large tonnage and rotary driller was very quick as well as the evolution pace of small and multi-functional construction machinery such as the small excavator (below 6 tons) and the independent innovation ability of enterprise was improved to some extent.
5.The problem of parts and components supply was serious,which drawn an attention from the whole industry. In 2007,portion of core parts and components were undersupplied badly,which became the bottleneck of production line. At present,the whole industry has discussed this problem deeply and begun to seek for various solutions. As for the problems on imbalance appear in the course of development,they have to be solved through development.
II.Industry Status and Development Expectation in the First Half Year of 2008
In the half year,the construction machinery industry has been in high-speed growing period all along. According to the statistical analysis on scraper,engineering crane,industrial vehicle and road roller,the engineering crane was the fastest,comparatively increasing by 93.3%. And the increase proportion of scraper was also very high. The sales income of the whole industry increased by 50.5% comparatively.
The growing status from January to June in 2008 is as follows: (in ten thousand yuan)
The sale of main products increased fast,especially the industrial vehicle,and loader. The sale of eight main machines comparatively increased by 36%. See the table below:
Sale status from January to June in 2008:
2.Analysis of Import and Export
2.1Whole Situation
The import and export of construction machinery increases fast in this year. The accumulative value of export reached 5.22 billion U.S. dollars until the end of May,increasing comparatively by 75.9%,and accumulative value of import reached 2.45 billion U.S. dollars,increasing comparatively by 23%. This result realized a favourable balance of 2.77 billion U.S. dollars and the average value of export per month exceeded 1 billion U.S. dollars in the successive three months.
2.2Quick Growth of Export
According to the above table,the 54.6% of motor grader sale was used for export and the export amount of bulldozer and compacting machinery has already accounted for one third of the total sale. The export of products has become the main reason for the growth of Chinese engineering machine.
3.Expectation of the Whole Year
In total,as for the expectation of Chinese construction machinery industry development in 2008,it shall fit the economic development of China and the development shall be stable and fast. The advantaged factors mainly are: the construction scale of infrastructure facilities in China is still very large as well as the investment demand of high speed railway,road,port,energy source project,construction of town and new village; the potential of global construction machinery market is large,especially the new economy and southeast Asia,Middle East,East Europe,Latin America and Africa whose infrastructure constructions are still in the peak and have vast demands; the management level,development ability and marketing experience of Chinese construction machinery enterprises have been improved a lot and the enterprises have already been primarily able to join the competition in international markets. The disadvantaged factors are: firstly,the growth speed of globe economy slows down and influence of US subprime mortgage crisis still extends; secondly,the price of materials increases a lot,especially the steel,which enlarges the cost pressure; thirdly,China continues to enhance the macroscopic readjustment and control to shrink the credit and control the growth speed of investment; fourthly,the RMB continues to increase in value,which weakens the competitive power of Chinese products abroad; fifthly,the trade friction risk is enlarged by the high-speed growth of Chinese products export.
According to the analysis above and industry operation conditions in last a few months,we forecast that the growth of whole year will exceed the proportion,20%,which is forecasted at the beginning of this year,and be possible to exceed 30%,besides,the sales income of whole year will reach RMB 300 billion yuan and value of export will exceed 12 billion U.S. dollars,increasing by 38%. Of course,as we all know,there are a lot of uncertain factors in the course of Chinese economy development,and as for the economy trend,there are various views and opinions,therefore,the forecast is only used for reference. However,we are still confident in the future of construction machinery of our country as a whole.
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