Yuan

: In January-June, Zoomlion booked a 309.8 million yuan net loss, in line with its own forecast of 300-380 million yuan, according to a stock exchange filing late on Sunday, according to Euro News. It made 900.1 million yuan net profit a year earlier. Encouraged to expand after Beijing unleashed a $644 billion stimulus package in 2008 during the global financial crisis, Chinese heavy equipment makers are stuck with a glut of unsold equipment and factories they do not need. Sany reported a 75.6 percent fall in net income to 334.8 million yuan for the same period, according to a filing. Projects under the Silk Road plan include a network of railways, highways, oil and gas pipelines and power grids across central, west and south Asia to as far as Greece, Russia and Oman. Even China pledge to support the Silk Road infrastructure initiative with $40 billion worth of investments may not be enough to revive the heavy machinery sector, industry players and analysts said. (news.financializer.com). As reported in the news.