China's machinery industry has maintained a sound momentum of steady and healthy development

  Since 2017, the whole industry of machinery industry has maintained a good trend of steady and healthy development. The main economic indexes of the industry have been better than expected, reversing the trend of the year-on-year decline in foreign trade import and export growth. According to data provided by the China machinery industry federation, the total import and export volume of the machinery industry reached 39.54.39 billion us dollars in the january-july period, an increase of 8.91 percent year on year. Among them, import of $167.816 billion, up 11.78% year on year; Exports of us $227623 million, up 6.88% year-on-year. The trade surplus was $59.8 billion, reversing the decline in import and export growth of machinery industry last year.

In the january-august period, the added value of the machinery industry increased by 11.0% year-on-year, compared with 4.3 and 3.8 percentage points respectively in the national industry and manufacturing industries in the same period, and 2.3 percentage points higher than the previous year in the machinery industry. In January and July, the main business revenue was 14.63 trillion yuan, up 11.37 percent year on year, up from 4.46 percentage points a year ago. The total profit was 9953.59 billion yuan, up 14.31 percent year on year, up from 7.72 percent a year earlier. ; This year, close to the consumer market, related to environmental protection, green manufacturing, intelligent manufacturing industry transformation and upgrading of related, related to the construction of infrastructure and related aspects of the national key project and industrial product production, have achieved rapid growth. China machinery industry federation President rui-xiang wang, said that August 1 -, machinery industry key monitoring of 119 kinds of main products, production achieve year-on-year growth has 91 kinds, accounted for 76.47%, including 42 products production from last year fell to rose. The production and sales of the automobile finished 17.678 million units and 17,511,000 units respectively, up 4.7 percent and 4.3 percent respectively from the same period last year.

The efficiency of industrial enterprises continued to improve. From the revenue of the new main business, from January to July, the year-on-year growth of the internal combustion engine, engineering machinery and instruments increased by 21.5 percent, 14.93 percent and 15.28 percent, respectively, in the first three sectors of the industry. Profits in the three sectors rose 58.18 percent, 81.2 percent, and 30.48 percent, respectively. The non-auto industry accounted for 64.69% of the total revenue from the new main business, up 16.69 percentage points from the previous year. From the new profit, the non-auto industry accounted for 65.64%, up 14.68 percentage points from the previous year. Car industry accounts for 34.36%; The electrical appliance industry accounted for 13.7%.

However, it is important to note that industry fixed asset investment growth is still running low. In the january-july period, the mechanical industry accumulated a total of 2.81 trillion yuan in fixed assets, a year-on-year growth of 3.42 percent, a decline of 1.19 percentage points from the first half. The price index has recovered slowly, with the producer price index rising 5.5 per cent year-on-year in the first half of this year. The cost pressures are still large, mainly reflected in the rapid growth of labor costs, financing costs, energy cost, rising logistics costs and raw material prices. In the january-july period, the main business cost of the machinery industry increased by 11.52% year on year, up from the same period last year. At the same time, the industry long-term accumulated structural problems have yet to be fundamentally changed, insufficient market downturn, order, parts of industry overcapacity, and the industrial and technological upgrading, folk investment is slow, have restricted the mention quality, and the efficiency of mechanical industry upgrade.

Rui-xiang wang expects full-year running of mechanical industry will continue to improve, the added value of industry or growth at around 8%, main business revenue and profit growth at around 8% of the total industry of foreign trade and exports for moderate growth.

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