Caterpillar expects China's construction equipment market to grow by 10% in 2012
caterpillar expects China's construction equipment market to grow by 10% in 2012
China Construction machinery information
Guide: on the evening of January 3, Beijing time, caterpillar Corporation (CAT), the world's largest heavy machinery manufacturer, said on Tuesday that it expects China's construction equipment market to grow by 10% in 2012, and the RMB exchange rate will strengthen against the US dollar. From the 16th to the 17th of this month, the 2012 Asian financial forum will be held in Hong Kong. Carter
in the evening of January 3, Beijing time, Caterpillar (CAT), the world's largest heavy machinery manufacturer, said on Tuesday that it was expected that China's construction equipment market would grow by 10% in 2012, and the RMB exchange rate would strengthen against the US dollar
from the 16th to the 17th of this month, the 2012 Asian financial forum will be held in Hong Kong. Richard Lavin, President of caterpillar group, told the Hong Kong Trade Development Council, the organizer of the forum, that China, as Caterpillar's largest market, will continue to grow at a "fairly fast" rate in the foreseeable future
he said: "as far as our future in China is concerned, we feel optimistic and confident."
Levin said that the construction equipment industry is expected to grow by about 10% in 2012 on the basis of 201 "industry experts said
1. High density connectors, coil racks, spools, sockets, etc; Loudspeaker vibrating plate and earphone switch in audio-visual device; Floppy disk, hard disk drive, copy and other parts in office equipment; Caterpillar is one of several heavy equipment manufacturers seeking rapid growth in China and has invested in a range of projects, from housing to infrastructure development
Julian Bu, an analyst at Jefferies, a securities firm, said that the total sales volume of China's construction machinery market reached 4350 yuan in 2010, and it is estimated that it will increase by about 15% in 2011
however, China's fixed asset investment is expected to slow down in 2012, which may affect the growth of sales of construction machinery (5.01,0.01,0.20%)
Bu said: "we expect the sales volume in 2012 to decline by about 15% and return to the level of 2010."
Levin warned in November last year that China's construction equipment market may have overcapacity this year and next, so caterpillar will face price pressure
caterpillar predicts that China's GDP will grow by 8% in 2012, The industrial growth rate is expected to be consistent with the GDP growth rate
caterpillar's prediction is consistent with that of the Chinese Academy of Social Sciences, which predicts that China's GDP growth in 2012 will fall to 8.9% from 9.2% in 2011
Caterpillar also sees opportunities in China's mining market. In November last year, the company offered us $885million to acquire era mining machinery, headquartered in Hong Kong, to strengthen its mining businessLevin also said that he expected the exchange rate of the RMB against the US dollar and other global currencies to continue to strengthen. He said that caterpillar would continue to explore the offshore RMB market in Hong Kong. Last year, the company issued offshore RMB bonds (commonly known as "dim sum bonds") in Hong Kong twice, raising a total of about $500million