China's excavator sales double for the fifth straight month in August: industry website
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Budget 2019 expectations - Changes eyed in GST system: from input tax credit to incentives, check out these demandsSales of excavators by Chinese manufacturers doubled for the fifth straight month in August year-on-year, an industry website said, suggesting real estate demand held up despite various tightening measures imposed on popular housing markets.
Some 24 major Chinese manufacturers, including a subsidiary of industry giant Sany Group, sold 8,700 excavators in August, industry website 21-Sun.com said on Saturday.
Total sales in the first eight months jumped to 91,000, marking a 101 percent increase compared to the same period a year earlier, it said.
The website called the booming industry "unstoppable", as the year-to-date sales figure surpassed that of all of 2014.
The affluent Chinese eastern province of Jiangsu sold the most excavators in the January-to-August period, it added.
China`s Statistics Bureau is due to release the official August property investment figure on Thursday.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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