Chinese manufacturers of construction machinery have raised prices as sales take off, in an early sign of how economic activity is resuming after weeks of shutdown during the coronavirus epidemic.
Some of China’s leading heavy equipment manufacturers have announced 5-10 per cent price increases since sales hit a record high in March, when infrastructure construction rebounded.
The national lockdown pummelled the world’s second-largest economy, with gross domestic product contracting 6.8 per cent in the first quarter of this year. But manufacturers hope the uptick in equipment sales heralds a sustained recovery.
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