6.8%, 3.2%, 4.9%, 6.5%, which is the quarterly growth rate of Chinese GDP in 2020. -11.6%, 24.8%, 33.2%, 62.5%, which is the single-season sales growth data of excavators in the domestic market during the same period. In the two upward curves, "excavator index" becomes a window to observe Chinese economic operation.
The sales volume of excavators is an important microscopic index to observe the economic operation. According to the practice in previous years, the excavator industry cycle generally starts about one week after the Spring Festival and reaches the annual peak within one and a half months. In 2020, affected by the Covid-19 epidemic, the sales peak of excavators moved back 30-45 days. However, the epidemic situation did not reduce the market demand, and the excavator sales in China showed an overcompensation rebound phenomenon of "off-season is not weak", and some manufacturers have been in full-load production. In 2020, only 25 manufacturing enterprises included in the statistics sold more than 320,000 excavators, an increase of 39% year-on-year. Compared with the sharp decline in the sales of construction machinery in some countries, the sales of excavators in China have increased against the trend, injecting warm current into the world economy.
The sales volume of excavators has changed from down to up, which is a concentrated release of backlog orders, and more clearly reflects the steady pace of resuming work and production. Take the transportation industry as an example, at the end of April last year, the resumption rate of 625 key transportation projects under construction exceeded 99%. Excavators can be found everywhere in the construction sites of high-speed rail lines and tunnel. From the "big excavator" of bridges and roads, to the "middle excavator" of building greening, and then to the "small excavator" of farmland reconstruction and 5G base station construction, excavators have found a broad stage to show their talents in various scenes of resumption of work and production.
Behind the small excavator is the rapid advancement of infrastructure construction. At the beginning of the 14th Five-Year Plan, the new process of building a socialist modernized country in an all-round way started, and the tasks of people's livelihood projects such as new rural construction and municipal renovation were heavy, and medical facilities, transportation and other industries had much to offer. In the field of new infrastructure, over 600,000 new 5G base stations and 462,000 new charging piles will be opened in 2020, creating development space for digital transformation and intelligent upgrading. One industry promotes the prosperity of all industries, while infrastructure provides stable support for all walks of life, while new infrastructure enables high-quality development, which adds strength to turn crises into opportunities in special years.
The production and sales of excavators are transformed into workload, which makes the heat of the market accelerate the pace of construction. According to statistics, in 2020, the cumulative working hours of excavators increased by 12.9% year-on-year, with 9 provinces and cities increasing by over 50%. On the large screen of a factory, the data of hundreds of thousands of excavators, hoisting equipment and other construction machinery in China are scrolled in real time. Excavators in various construction sites gather information together with the help of big data and Internet of Things, which is a strong pulse of economic recovery.
Many institutions predict that excavator sales will continue to grow in 2021. It can be predicted that with the advantages of sufficient potential, great resilience, strong vitality, large swing space and many policy tools, Chinese economy will continue to consolidate its long-term positive trend.