A series of key indicators released by the State Information Center (SIC) on Saturday reveal that consumption, investment, and industrial production across various sectors have demonstrated positive upward trends, driven by coordinated macroeconomic policies.
The latest data show that in April, overall excavator sales rose by 17.6 percent year on year, with domestic sales up by 16.4 percent. Excavator sales have consistently increased this year, signaling a gradual recovery in the construction machinery industry and a positive rebound in domestic demand.
According to the SIC, in April, the national operating rate of construction machinery grew by 1.6 percentage points month on month, reflecting busier construction activities across various regions, especially in road construction.
"This shows that road infrastructure construction is fully picking up. This is driven by both seasonal factors and policy measures, while also reflecting the gradual release of internal momentum of the Chinese economy. Policies on stabilizing growth are turning into tangible working results," said Shen Chunfeng, an expert in engineering machinery index data at ROOTCloud, an industrial internet platform solution provider.
In April, nearly half of the provincial regions in China saw an increase in operating rates month on month. The northeast region was the busiest, with an operating rate of 61.13 percent, which is a 13.08 percent increase from the previous month, ranking top in both indicators of the country.
Key infrastructure projects in the northeast are now in full swing, with the construction driven by industries like low-altitude economy and culture and tourism sector having a big impact.
At the same time, funding for construction is speeding up. In the first four months of this year, local government bonds totaling 3,535.4 billion yuan (about 490.50 billion U.S. dollars) were issued nationwide, marking a year-on-year increase of 84 percent. Both the volume and growth rate of bond issuance have made record highs for this period in recent years.
Special long-term treasury bonds also started coming out in late April, almost a month earlier than last year.
Support for major projects is getting stronger. Data show that in April, the total value of project bids nationwide rose by 10.0 percent year on year and 7.8 percent month on month, with sectors like energy, chemicals, transportation, healthcare, and municipal facilities leading the way.
"The quicker delivery of funds and the more rapid growth of project bidding amounts show that China's policy-funding-project approach has worked well together. This helps accelerate the formation of tangible work output and strengthens the vital role that major projects play in stabilizing growth and expanding domestic demand," said Wei Ying, deputy director of the Big Data Development Department at the State Information Center.
Leading indicators show China's economy continues to pick up
