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China's excavator sales double for the fifth straight month in August: industry website

Reuters  |  BEIJING 

(Reuters) - Sales 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 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.

(Reporting by Yawen Chen and Sue-Lin Wong; Editing by Nick Macfie)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, September 11 2017. 17:06 IST