Fixed asset investment lifts construction companies

Manufacturers of construction machinery and building materials are expected to see steady growth this year, as China continues to ramp up fixed asset investment, industry experts said on Tuesday.

Su Zimeng, executive vice-president and secretary-general of China Construction Machinery Association, said the construction machinery sector came in with a robust performance during the first three months of the year and is on track for steady growth.

"As China endeavors to pursue stable growth, advance reform, make structural adjustments, improve people's living standards and guard against risks, the construction machinery sector revenue is expected to grow by more than 10 percent in 2019. The enhanced focus on research and development will help buoy profits," Su said.