[Main Sales Performance of Major Construction Machinery Products in February]

Shanghai hot-rolled coil inventory stood at 581,900 mt this week, down 6,500 mt WoW, a decline of 1.10%; up 55.34% YoY on a calendar basis and up 60.35% YoY on a lunar calendar basis.

Since March this year, Shenzhen's real estate market has seen a new wave of momentum, with trading volume for both new homes and existing homes continuing to rise MoM, and the market recovering notably, as the "Spring Mini-Boom" emerged. Recently, as a new batch of high-quality residential projects has been launched one after another, housing demand is expected to be further released. According to the Municipal Housing and Construction Bureau, in the first two weeks of March, the number of online signed transactions for second-hand residential properties in Shenzhen rose 23.8% and 24.5% WoW, respectively.

This year marks the opening year of the 15th Five-Year Plan period, and China will continue implementing a more proactive fiscal policy. Priority will be given to supporting the building of a strong Chinese market; supporting efforts to accelerate the fostering and strengthening of new momentum, rolling out initiatives for the high-quality development of key manufacturing industry chains, organizing the implementation of the third batch of pilot cities for new-type technological transformation in manufacturing, and continuing the fiscal award and subsidy policy for specialized, refined, distinctive, and innovative small and medium-sized enterprises.