The hot property market in China has propelled a surge in September sales of excavators in the country, industry data showed.
“A recovering housing market coupled with a recent pickup in infrastructure development … have created a terrific September for China’s excavator makers,” said the industry news portal. “Across the spectrum we have seen a big jump in sales for September, no matter they are the small, medium or big excavators.”
Chinese multinational heavy machinery maker Sany Heavy Industry was the top seller in the market, delivering 1,111 excavators last month to customers, the data indicated, while American industrial giant Caterpillar ranked second, with 753 orders for the same period.
The cost of a home in China’s biggest cities rose for the 17th consecutive month in September, a private survey showed, underlining the need for policymakers to adopt tougher rules to cool the property market.
The average price of a new home climbed 2.83 per cent last month, to 12,617 yuan per square metre, up from a 2.17 per cent rise seen in August, said China Index Academy, a research unit of real estate portal SouFun.
