At Construction Fair, China’s Silk Road Feeds Hope Of 2017 Recovery

One America News Network | 11/22/2016 | Staff
marisha (Posted by) Level 3
Click For Photo: http://d2pggiv3o55wnc.cloudfront.net/oann/wp-content/uploads/2016/11/2016-11-25T060535Z_1_LYNXMPECAO08Z_RTROPTP_0_CHINA-ECONOMY-CONSTRUCTION_1.jpg

SHANGHAI (Reuters) – After five years of falling revenue, forecourts overcrowded with unsold machinery and idle factories, China’s push to build a modern day Silk Road is fuelling a recovery for the country’s heavy equipment industry, according to executives from many companies gathered in Shanghai this week.

Construction equipment makers – a proxy for China’s infrastructure, resources and construction sectors – suffered a plunge in sales after 2011, as commodity prices collapsed.

Industry - Sales - China - Year - Consultancy

Industry sales in China peaked that year at $35 billion, according to consultancy Off-Highway Research; and this year, they are estimated at $9 billion – the worst sales level in more than a decade.

But speaking at a crowded biennial industry show this week, executives from machinery makers said that in the third quarter of this year there were finally signs of life. They now expect growth next year for the first time since 2011, as a glut of used equipment ages, the industry works through accumulated inventory and companies benefit from ambitious government projects.

Demand - Excavators - China - Percent - September

Overall demand for excavators in China jumped by 50 percent in September, while sales of earth-moving and road-making machinery, a major beneficiary of the Silk Road effort, turned positive after five years of losses, according to Off-Highway.

“We’ve seen fairly significant signs of bottoming and turning around,” said David Beatenbough, a vice-president of Guangxi LiuGong Machinery Co Ltd , one of China’s largest construction machinery manufacturers, where he overseas research and development.

Bit - Rail - Roads… - Bit - Estate

“We’re seeing quite a bit in rail, some in roads… and a little bit in traditional real estate,” he said.

China has estimated the Silk Road initiative, known as ‘One Belt, One Road’, could add $2.5 trillion to China’s trade in the next decade, making it critical to the post-financial crisis turnaround – and the benefits will go well beyond machine makers.

President - Xi - Jinping - Initiative

Chinese President Xi Jinping’s initiative, includes a...
(Excerpt) Read more at: One America News Network
Wake Up To Breaking News!
One of the countries we liberated was Russia, too bad it seems to have cost us our liberty.
Sign In or Register to comment.

Welcome to Long Room!

Give Us 5 Minutes, We'll Give You The World!

LongRoom Culture
Dog Drags Large Branch Home! This dog looks so proud of his find as he drags it home.  It looks like enough wood to start a...
Smoke Man Special FX! This image is motion capture footage with a smoke effect added using Blender's Cycles rendering software.
Cat Bounces Off Walls When Chased By A Dog In The House! The "Prince of Persia" wall bouncing moves by this cat are quite...
Dog Keeps Girl From Wading Too Far Out In The Water! This dog keeps pushing this girl back to the shore to keep her from...
This Mother's Reaction To Her Son's Birthday Present To Her Is Priceless! While talking to her son over the computer on her...
Three Simple Strips of Paper Become Many Amazing Things In The Hands of This Paper Artist! The way that this paper artist rolls...
Fantastic Cube-Shaped Tent Sets Up And Takes Down Quickly! This great tent catches your attention with its quick set up and...
Jack the Cat Has A Surprisingly Deep Meow! Jack's owner shows off his black and white cat's unusual deep meow.The comment on...
Eugene Laferty Jumps From His Damaged Bike Going 120 MPH at World Superbike Race Before an Inferno Crash!
Lifeguard Spots Kid Drowning in Chaotic Wave Pool and Rescues Him! Ask any lifeguard with experience watching a wave pool and...
Underwater Hippo Chases Boat! You can't tell exactly what this thing is until it surfaces and turns into an angry hippo!
Amazing Dog Enthusiastically Bounces Beach Ball Into The Air! Apparently beach ball bouncing is the new thing for dogs.
Elephant Doesn't Know How To React To Charging Baby Buffalo!. This adult elephant chooses to back up in the face of this...
Bear Chases Man on Bike in Malino Brdo Slovaka These two men are travelling at a good speed on the path of this bikepark when a...
Watch This Amazing Video of Lightning Striking a Tree! Interestingly, the bark of the tree wasn't burned or exploded, but...
Policeman's Bodycam Shows Him Rescue an Autistic Child! This footage is from a bodycam installed on an officer in the Topeka...
Cute Baby and Kitty Cuddle Together! This cute and cuddly kitty mews and talks to the baby while they are taking a nap together.
Venezuela's President Maduro Dances on TV At the Same Time That People Riot on the Street Outside! President Maduro dances in a...
Golden Retriever and Girl Taking a Nap in a Hammock - Sheer Contentment! This video of a girl and her dog sharing a hammock for...
Rare Footage of Cuttlefish Mating Shows Vicious Fight Between Two Males Over the Female! Published this week in American...
Fantastic Time Lapse of Blooming Flowers! If we could only watch flowers bloom, it would be amazing, right?  Well, this time...
Plane Crashes into Street near Seattle! This crash happened earlier today.  No injuries were reported, and the pilot was said...
Majestic Lion Startled By Bursting Soap Bubble! This beautiful lion notices a soap bubble floating around his enclosure and...
Dog Digs In Muddy Hole in Lawn Until His Owner Knocks on the Window and Stops Him! This dog is having a great time digging in...
Young Elephant Is Helped Out Of A Stream By Her Aunt! Elephants are Amazing Creatures! This Baby Elephant named Lia, is at...
Javelin Missile Launch Javelin Missiles are useful in a direct-fire approach like an explosion on buildings, stationary targets,...
Mother Bear and Cubs Crossing the Road And Elk Crossing the Road! It is a good day to cross the road!  Here are the Bears!  And...
Beautiful Red Streams of Lava Flowing Into Sea In Hawaii! This colorful scene is nature at its most magnificent, the hot lava...
Bear Cub With A Clam Holding On To It's Paw! This cub stands up as if to say "Help! Mom!!"  But the clam holds firmly to his...
8 Year Old Girl Tries Bionic Hand for First Time - Amazing! Bionic technology has come a long way and makes the prospects look...