It used to be so simple. Buy construction machinery makers when China booms, and sell on the whiff of a slowdown. Few sectors have been so closely tied to government economic boosters because of Beijing’s dependence on infrastructure spending to deliver growth. Yet as the new leadership focuses on consumption as well as urbanisation, at the same time as steady rather than breakneck growth, the sector is harder to call. The allegation this week of accounting fraud at Zoomlion has shaken confidence.
过去事情就是这么简单。在manbetx3.0 manbetx20客户端下载 蓬勃发展时买进建筑机械制造商的股票，一旦察觉到manbetx3.0 manbetx20客户端下载 要放缓就抛出这类股票。由于manbetx3.0 政府依赖基础设施支出实现manbetx20客户端下载 增长，几乎没有一个行业与政府manbetx20客户端下载 推手的关系如此密切。然而，随着新一届领导层把注意力放在消费和城市化以及平稳（而非高速）增长方面，该行业前景变得更难以逆料。本周，中联重科(Zoomlion)涉嫌会计欺诈的指控打击了市场信心。