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Chinese to English: 当季概览Seasonal Overview General field: Bus/Financial Detailed field: Business/Commerce (general)
Source text - Chinese 近年来，在中国宏观经济形势持续向好的背景下，工程机械行业快速发展。2010年，中国工程机械行业销售额实破4000亿元，超越北美、日本、西欧，成为全球最大工程机械市场。
2011年1季度，由于春节假期提前，销售旺季也相应提前，加上主要企业过度促销，工程机械行业延续上年的爆发式增长。3月，当月销售产值和累计产值增速均达到年内最高点。
2季度以来，中国货币政策持续收紧，经济增速逐步放缓，大型工程项目开工不足，基建投资增速不断下滑；尤其是3季度铁路投资呈现负增长，房地产开发投资增速高位回落。多重因素叠加，导致工程机械市场需求持续低迷。10月，当月销售产值448.4亿元，比3月下降29.63%；累计产值增速35.42%，比3月下降23.24个百分点。由于市场环境继续恶化，企业面临需求低迷、成本高企和库存高位的三重困境，利润总额增速大幅下滑，经营压力明显加大。
4季度是传统销售旺季，工程机械销售情况将好于3季度。但是考虑到铁路投资回落态势较强，房地产调控将持续从紧，紧缩的货币政策难有明显松动，预计4季度将呈现旺季不旺的销售局面，市场低迷的态势短期内难以扭转。受益于1季度的爆发式增长，预计2011年全年行业销售产值将达到约5750亿元，同比增长34%左右；但2012年行业销售产值增速将明显回落，降至16%左右。
Translation - English In recent years, under the circumstances that the Chinese macro economy trended up continuously, the construction machinery industry develops rapidly. In 2010, the total sales value of the Chinese construction machinery industry overran 400 billion yuan, which surpassed North America, Japan and West Europe to be the largest construction machinery market globally.
In the first quarter of 2011, due to the early Chinese Spring Festival holiday and over promotion by the major corporations, peak period of sales started earlier and the industry continued its dramatic rise since last year. In March, both its monthly sales volume and the accumulative output increase reached the highest of the year.
Since the second quarter, Chinese monetary policy had tightening up continuously, which slowed down the increase of economic growth, caused large-scale construction projects to operate under capacity and slumped the increase of construction investment. Moreover, the investment on railways showed negative in growth, along with the decline from records high of the increase of real estate development investment. With above-mentioned aspects adding up, the demand in construction machinery market stayed sluggish. The monthly sales value of October was 44.84 billion yuan, a decrease of 29.63% from March. And the accumulative increase of sales value was 35.42%, a decrease of 23.24 percentage points from March. As a result of the continued deterioration of market conditions, enterprises were facing with triple predicaments. For this reason, the increase of total profit dropped drastically and the pressure for operation increased distinctively.
The fourth quarter is the usual peak season. The sales of construction machinery performed better than the third quarter. However, considering the notable/significant comedown of the railway investment, the continuously tightened real estate control and the slim possibility of the evident loosening of tight monetary policy, it could be anticipated that the peak season, the fourth quarter so to speak, would not peak as usual and the sluggish market conditions would not change its stance in short term. Benefitted from the booming increase of the first quarter, the overall value of sales for the whole industry of 2011 would reach 575 billion yuan, an increase of 34% on a year-on-year basis. But in 2012, the increase of overall industry sales value would experience significant drop to about 16%.
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Bachelor's degree - Beijing International Studies University
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Years of experience: 18. Registered at ProZ.com: Sep 2007.
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