[THE INVESTOR] Hyundai Construction Equipment has seen a sharp rise in the sales of its excavators in China this year, industry sources said on May 26.

According to the sources, the company sold some 1,600 excavators in the first four months of the year, nearing last year‘s sales of 1,900 units in total.

Demand for construction equipment has been on the rise in China on increased budget spending in infrastructure.

“On the back of an expanded sales network and improved quality, Korean firms are faring well in China,” an industry source said.

In the January-April period, a total of 52,000 excavators were sold in China, more than double from a year earlier, the sources said.

By Alex Lee and newswires (alexlee@heraldcorp.com)