China's construction machinery industry continued its rapid growth since the second quarter in the third quarter, but the growth was not balanced. The performance of compaction machinery, excavation and earthmoving machinery is still good. The cumulative growth rate of production from January to August is as high as 76.8% and 64.1%. The cumulative output of concrete machinery from January to August increased by 13.4% year-on-year, which was better than the second quarter overall. The cumulative growth rate of cranes from January to August slowed down, maintaining a growth rate of 8.1%. There are three factors that affect the overall performance of construction machinery in the third quarter. The first is that infrastructure investment continues to grow. In the third quarter, investment in railways, highways, and infrastructure has not diminished, and demand for compaction machinery, excavation, and earthmoving machinery has been strong. The second is that the country continues the original real estate control policy, which has an impact on the concrete machinery industry that relies on real estate investment, but the industrial foundation of concrete machinery has not changed fundamentally. Finally, as reflected in the equipment manufacturing prosperity index in the third quarter, the endogenous growth capacity of equipment manufacturing has weakened, which will have a certain negative impact on the crane industry, which is driven by endogenous growth capacity far greater than the cyclical role of the economy. It is expected that the overall performance of construction machinery in the fourth quarter will continue the growth trend since the beginning of the year, and there will be no fundamental change in the basic situation. The intensity of infrastructure investment will not be correspondingly reduced in the fourth quarter, and the prices of resource products will gradually recover, which will ensure that there will be no significant decline in construction machinery demand in the fourth quarter. In addition, the role of certain stimulus policies will gradually weaken in the fourth quarter, while the real estate regulation policy will remain unchanged. Therefore, the fundamental performance of certain construction machinery products such as concrete machinery will not change significantly. "Seeking change" has always been the core appeal of China's construction machinery industry. Since this year, this change has become more apparent. China's economy is currently undergoing four major changes: the growth base is shifting from labor-intensive to capital-intensive, and the economic driving force is shifting from investment-driven to innovation-driven. The organization changes from pyramid to flat, and the growth mode is from the original. High energy consumption has shifted to a low carbon greening approach. In order to adapt to these changes, China's construction machinery industry itself is undergoing continuous changes, and integration and high-end is the two major development lines of the construction machinery industry in the future. The integration of the construction machinery industry is a trend and will become more and more obvious. According to the "Opinions of the State Council on Promoting Mergers and Acquisitions of Enterprises" announced in September, the machinery manufacturing industry to which construction machinery belongs has become one of the key industries for the promotion and reorganization of the country. Consolidation is the trend, but integration is a big wave of sand, not a lot of mud, and not all integration can produce competitiveness. The investment opportunities integrated in the construction machinery industry are mainly concentrated on those companies that can successfully internationalize. These enterprises can stand out from the tide of enterprise integration by acquiring foreign well-known construction machinery enterprises and R&D institutions, or integrating them with international standards through overseas promotion, and improving their resource strength as a whole, thus avoiding the disorderly competition of domestic homogenization. High-end is the inevitable development direction of China's construction machinery in the future. The relatively competitive advantage brought about by low labor costs makes China's low-end engineering machinery products unique in the world. However, with the transformation of the economic development mode, the demand for construction machinery will also undergo fundamental changes. The unprecedented construction of high-speed railways, highways and large ports, as well as the increasing standards of housing requirements, have placed high reliability and high precision on construction machinery, and the process of high-end engineering machinery is inevitable. In the "Decision of the State Council on Accelerating the Cultivation and Development of Strategic Emerging Industries", the high-end equipment manufacturing industry, which is a high-end equipment manufacturing industry, is listed as one of the strategic emerging industries, which is the concentrated expression of this trend. A typical example is an excavator. Chinese companies that can successfully enter the high-end excavator market will have long-term investment opportunities. At present, China's own brands are basically in the blank of high-end excavators, and Chinese companies that are at the forefront of this competition will gain far more market returns than before. Change is a typical feature of China's construction machinery industry in the current profound transformation of economic development mode, and integration and high-end is the best way to adapt to this great change. It is a promising prospect for companies that can achieve internationalization through integration and successfully expand high-end products to meet market demand. Jiangsu Zhongyi Work Rigging Co., Ltd. , https://www.zy-rigging.com