Expert Profile
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David Wei
Since October 2007, chief executive officer and executive director of Alibaba.com;
From November 2006 to September 2007, president of Alibaba.com and executive vice president of Alibaba Group;
From 2002 to 2006, president of B&Q China, a subsidiary of King
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China's gross national savings soared from 39.2 percent of output in 1990 to 53.2 percent in 2008, far higher than the United States, which saved just 12.2 percent in 2008. Even compared to other Asian giants -- Japan with 27 percent in 2007 and India with 33.6 percent in 2008 -- China's share of savings as a percentage of gross domestic product is significantly larger.
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| Hitachi Construction Doubles China Demand Outlook |
Senior Vice President Shinichi Mihara of Hitachi Construction Machinery Co., Asia’s second-largest excavator maker, said demand for excavators in China will rise about 17 percent to a record 51,300 units in the year to March 31, reported Bloomberg.Tokyo-based Hitachi, which holds a 17 percent share of China’s excavator market, had estimated 8 percent growth in July. “There are no factors that would lead to a fall in demand in China until around the Lunar New Year” in mid-February, Mihara, the executive in charge of production, said Thursday. The company’s excavator sales in China were “in line” with the 18 percent growth in overall industry demand in the fiscal first half, Mihara said. Industry demand jumped about 60 percent in August and September compared with last year, and may more than double this month. Hitachi Construction Machinery and its rivals, including Tokyo-based Komatsu Ltd. and Caterpillar Inc. in Peoria, Illinois, have relied on growth in China as sales in the U.S., Europe and Japan plummeted. Hitachi derived 26 percent of its sales from China in the April to June quarter, the first time China ranked alongside Japan as its largest market. |
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Senior Vice President Shinichi Mihara of Hitachi Construction Machinery Co., Asia’s second-largest excavator maker, said demand for excavators in China will rise about 17 percent to a record 51,300 units in the year to March 31, reported Bloomberg.
