CHINA-ECONOMY: MANUFACTURERS RAISE COSTS OF PRODUCTS
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The Chinese financial magazine reported (April 15) that as the epicenter of the coronavirus pandemic moves outside China, multiple major construction equipment makers raised the prices of their excavators amid rebounding domestic demand and the rising cost of imported components. The Sany Heavy Industry Co. Ltd., of the China Construction Machinery Association (CCMA) industry group, announced (April 11) that its smaller excavators will become 10% more expensive and the prices of its medium and large excavators will go up by 5%. The Shanghai-listed company is not the only heavy-equipment manufacturer to take this step, with peers including Xuzhou Construction Machinery Group Co. Ltd. also raising excavator prices.
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