The domestic construction machinery market can reach 600 billion in 2012

Although the slowdown in China's economic growth is a foregone conclusion, President of Sany Heavy Industry of China’s large construction machinery manufacturer Xiang Wenbo expressed during the two sessions that it is still optimistic about the prospects of the domestic market in 2012. It is expected that the domestic construction machinery market scale is expected to reach 5000 in 2012. -600 billion yuan (the same below). It also means that Chinese construction machinery companies' participation in overseas mergers and acquisitions is an inevitable trend.

According to Wenbo, the market size of China's construction machinery accounted for 47% of the global market in 2010, and it is estimated that this proportion will increase in 2011.

The "12th Five-Year Plan" of China's construction machinery industry released before this goal aims to achieve an industry-wide sales scale of 900 billion yuan in 2015, an average annual increase of 17%, and the end of the "Eleventh Five-year Plan" will be 43,367 million yuan.

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