Since the " State Council revitalizes equipment manufacturing industry about accelerating number of observations " June 28th released since, subsequent relevant policy comes on stage ceaselessly, with " on the acquisition of domestic enterprises by Foreign Investors Provisions" and " the adjustment on the part of the export tax rebate rate announcement" the most impact, guide specific industry development planning " ship industry and long-term development plan ( 2006-2015 ) " also gradually began to publish, revitalize the policy on schedule to refine, operational direction.

And, from the recent equipment manufacturing industry meeting senior leadership series hair dryer, we found that in the fourth quarter of this year or next year first half of the year will still have several high-profile policies, such as: the foreign investment guidelines revision, encourage mechanical and electrical products export policy, encourage independent innovation policy, encourage the use of domestic equipment,

Machine tool industry special planning. Also, the follow-up policy influence on the enterprise is more specific, direct, related industries, such as machine tools, engineering machinery, shipbuilding, aircraft manufacturing, mining machinery, in taxes, capital, research and development, marketing and other aspects of hitherto unknown support, no matter from the recent performance or from long-term development will benefit.

For a big industry, so the high density publishs a series of policy can be said to be the hitherto unknown, this enough explains the government 's determination to revitalize the equipment manufacturing industry. In the determination of the back, maybe we can see to promote industrial upgrading, promote economic structural adjustment of big ideas.

Experience from abroad, the developing countries and area rise abruptly, after experiencing low additional value, labor is concentrated, resource intensive phase, if not homeopathic realize the upgrading of the manufacturing industry, development capital, technology, knowledge, innovation and higher content of industry, product, economic growth will eventually fade away, such as Japan, Korea to the Latin American countries, Taiwan, such as Brazil, Argentina. Recently a series of government policy is clearly to come, the next few years domestic manufacturing industry upgrades will undoubtedly follow this way, become pull exports, economic growth and structure adjustment main field. Because our country manufacturing industry policy, market, talent, capital and technology industrial base and many other factors be richly endowed by nature, is very optimistic about the trend of development.

The low valuation of engineering machinery

Although the 1-8 fixed asset investment of 29.1%, is still out of high interval, but, with the growth rate fall after a rise, policy is expected to focus on the next step will be to maintain the existing regulation results, more dramatic modulation of anticipated weakening. Prior to this, the investment in machinery industry, especially the investment and highly related to the engineering machinery industry has scruples regulation is expected to eliminate.

Since the " eleven five " plan is just beginning, to achieve a series of objectives, from the historical data, a growth rate of around 20%-25% policy is the ideal interval. From economic growth to look, investment-led economic growth model in the short term it is difficult to change, so do not worry over fall rate.

Machinery industry, especially in mechanical engineering downstream demand and investment are highly correlated, investment seasonal, cyclical movements often have great influence on product sales. However, different products on the investment growth responses are different. And infrastructure investment, real estate related with higher degree of earth machinery, concrete machinery, mechanical compaction by investment growth change influence to be more obvious, the larger fluctuations. While the forklift, crane is less volatile, the growth momentum evident. From the early 2004's regulation effect, the categories of products subject to regulation effect sensitivity from high to low as compaction machinery, earth-moving machinery, concrete machinery, crane, forklift. However, with the 2005 since the beginning of the year the infrastructure investment growth to accelerate, the investment in fixed assets increased in proportion, the earth machinery, concrete machinery regulated influence greatly weakened. Therefore, we should choose investment back in industry segments, the order should be forklifts and cranes preferred, concrete and earth machinery secondly.

Bibcock company with anti regulation ability

Through 2004 the regulation, engineering machinery industry concentration changes, the upgrading of products, foreign market development and variation are greatly enhanced the existing bibcock company anti regulation ability.

At present, the domestic construction machinery listing Corporation has the most comparable international valuation reference is listed in Hongkong loader giant China dragon in 2006, the valuation of the level has reached 13.4 times, 12 times 2007 ( according to the certificate to predict their performance in 2006 0.45 yuan, in 2007 0.50 yuan, present price 6 yuan ), the United States of America market agriculture and construction industry average price-earnings ratio is around 15.7 times, while the domestic bibcock company 2006 dynamic earnings are below 13 times, in 2007 11 times, taking into account the H shares and A spread, significantly lower valuation. The demand for construction machinery, seasonal factors can increase the industry's pessimism, but, from September two weeks before the market situation, leasing and sales situation is getting better and better. Therefore, we suggest that from now on, begin to pay close attention to engineering machinery company, such as: ZOOMLION, Liugong, Sany, Anhui together.

In addition, from the sub-sectors, machine tools, shipbuilding, aviation manufacturing industry, coal machinery will continue to boom, suggested that pays attention to one of the leading companies, such as the Qinchuan development, GSI, Hudong machine, Hafei shares, heaven and earth science and technology, such as wheel of shares.