The domestic construction machinery market will grow by about 12% next year

Su Zimeng, secretary general of China Construction Machinery Industry Association, said in an interview on December 27th that the domestic construction machinery market will grow by about 12% next year.

Su Zimeng said that due to the increase in accounts receivable and inventory growth since the third quarter, some companies in the construction machinery industry are experiencing tight liquidity, and some companies have also adopted refinancing measures such as issuing corporate bonds. However, he emphasized that the main purpose of refinancing is to invest in the redevelopment of the company's R&D and overseas expansion.

Su Zimeng pointed out to reporters that the slowdown in the pace of development of construction machinery enterprises is a normal and rational return for the entire industry. It is also true that companies have increased investment in overseas deployment during this period.

He told reporters that at present the growth of the international construction machinery market has doubled and will continue to expand. According to its introduction, China's overseas export of construction machinery has increased by 51% from January to October 2011, while sales growth in the domestic market was only about 30% during the same period, which is significantly lower than the growth rate of overseas markets.

He also pointed out that the growth rate of the international construction machinery market in 2012 will still be rapid, and the domestic may still show the growth trend of low and high. He expects the domestic market to grow by about 12% next year.