New approach

摘要

After a decade of growth and then the stimulus-driven boom of a few years ago, Chinese equipment manufacturers are still getting used to the idea that markets can go down as well as up. Following the huge surge of work that carried the country through the global economic crisis, the inevitable downturn is now in its third year. According to is chairman of Liugong Machinery and president of Liugong Group, Zeng Guang'an, there were some glimmers of hope earlier this year, but the second quarter has seen domestic demand take a turn for the worse. "The Chinese market was not bad in the first quarter, but there was a big drop in April and May. Wheeled loader sales were down about -16% compared to last year. The same for excavators, dozers, rollers, graders," he said.