Sand and gravel transportation boom surges: 94%! 3.4%! 83.8%! This reveals a strong upward trend in the economy at the start of the year.

Recently, several high-frequency indicators, such as the "construction machinery operating rate," "bid winning amount," and "building materials transportation heat index," have demonstrated the vitality and intensity of engineering construction from different perspectives, indicating a strong investment momentum.

More sand and gravel aggregate equipment: Since the beginning of the year, various regions have released lists of major projects, accelerating project progress. According to the National Information Center's building materials transportation heat index, the sand and gravel transportation heat index reached 94.0 in January 2024, a 3.4% increase compared to the previous month, and a significant jump of 83.8% compared to the same period last year. This fully demonstrates that market demand for building materials has far exceeded the level at the beginning of 2023.

The increase in engineering construction intensity is a clear sign of increased investment. High-frequency indicators, due to their rapid updates and fine data granularity, can keenly capture economic dynamics, more directly reflect the economic operating status, and provide timely reference for judging economic trends. Among them, the "construction machinery operating rate" is an important reflection of the physical workload of engineering projects. Following the Spring Festival, the national construction machinery operating rate steadily rebounded, with the average operating rate in the first week after the holiday increasing significantly by 12 percentage points compared to the period during the holiday.

At construction sites across the country, construction activity remains high. Taking the Shuangjiangkou Hydropower Station as an example, at the construction site of this project, hailed as the world's highest dam and a major national clean energy project, hundreds of excavators and bulldozers are busily at work. Project manager Li Chunquan stated that all construction personnel are working tirelessly to ensure the goal of impounding water in 2024 and putting the first batch of generating units into operation in 2025.

Since the beginning of the year, various regions have identified lists of major projects and accelerated project construction. Data from the National Information Center's building materials transportation heat index shows that in January 2024, the transportation heat index for concrete and aggregates was 85.3 and 94.0 respectively, representing month-on-month increases of 5.0% and 3.4%, and year-on-year increases of 97.3% and 83.8%, respectively. This further confirms the significant increase in market demand for building materials.

The amount of bids won, as an important indicator reflecting the investment enthusiasm for projects, can foreshadow the scale of new projects about to be launched. According to monitoring and analysis by the National Information Center, from January to February 2024, the amount of bids won for project investment nationwide increased by 9.1% year-on-year. This also demonstrates the importance that various regions attach to the construction of major projects and their determination to quickly generate tangible results.

"Whether it's the increase in the commencement rate or the growth in the amount of bids won, both reflect the importance that various regions attach to the construction of major projects and their determination to quickly generate tangible results. In 2024, infrastructure investment will continue to play a key role in stabilizing growth," said Luo Huanjie, chief researcher at the Guangkai Chief Industry Research Institute.