Changsha engineering machinery industries are a step ahead

Benefiting from multiple factors, such as domestic infrastructure investment, the improvement of production and manufacturing processes, and an increase in overseas orders, the engineering machinery industry in Changsha has thrived in the first half of 2018.

According to China Construction Machinery Association, Sany Heavy Industry sold 27,561 excavators from January to July, holding 21.5 percent of the domestic market share. Zoomlion achieved an operating revenue of 6.36 billion yuan ($933.78 million) in just the first quarter of this year, up 20.58 percent year-on-year, including a net profit of 377 million yuan, up 345.51 percent year-on-year. Sunward Intelligent’s profits increased by 230 to 280 percent over the previous year.

In the first half of this year, the industrial added value of engineering machinery in the Changsha Economic Development Zone reached 8 billion yuan, a year-on-year increase of 7 percent. The annual growth rate is expected to be 9.87 percent this year. The trade value of the two leading industries, auto parts and engineering machinery, is expected to break 100 billion yuan.

Thanks to the strong promotion of the Belt and Road Initiative, Sany products are exported to India, Indonesia, Thailand, Malaysia and other countries. In the first half of this year, nearly 3,000 excavators were sold overseas, up 66 percent year-on-year.

Moreover, in July, Sany Heavy Industry, Zoomlion, China Railway Construction Heavy Industry, and Sunward Intelligent ranked among the top 50 construction machinery companies in the world, making Changsha the city with the most companies on the list.