China Machinery Industry Federation: Machinery Industry Enters The Medium-Speed Growth Stage

- Oct 25, 2018-

China Machinery Industry Federation: Machinery Industry Enters the Medium-Speed Growth Stage

In 2012, China's machinery industry ended its high-speed growth of more than 25% per annum from 2000 to 2011. The growth rate of production and sales was between 11% and 13%, and the industry's development entered a medium-speed growth period.

China's machinery industry enters the stage of medium-speed growth

In 2012, China's machinery industry ended its high-speed growth of more than 25% per annum from 2000 to 2011. The growth rate of production and sales was between 11% and 13%, and the industry's development entered a medium-speed growth period.

This is what the reporter learned from the press conference held by the China Machinery Industry Federation on the 1st. According to Cai Weici, Executive Vice President of China Machine Tool Association, in 2012, the machinery industry realized a total industrial output value and sales value of 18.41 trillion yuan and 18.04 trillion yuan, up 12.64% and 12.54% respectively.

"In 2012, the added value of the machinery industry increased by 8.4% year-on-year, an increase of 6.7 percentage points over the previous year, and was lower than the national average industrial growth rate of 1.6 percentage points over the same period. For the first time in many years, it was lower than the national industrial added value average growth rate." Cai Weici said This shows that the challenges faced by the machinery industry in this round of adjustment are particularly severe compared to other industrial sectors.

It is understood that the market demand for mechanical products in 2012 is weak. The efficiency growth rate dropped significantly and the profitability decreased. The foreign trade situation is grim, and the growth rate has fallen sharply.

According to statistics, the machinery industry realized a total profit of 1.23 trillion yuan from January to December, a year-on-year increase of only 5.18%, and the growth rate dropped by 15.96 percentage points over the same period of the previous year. The industry's main business income margin fell back to 6.81%, lower than the 2010 and 2011 levels of 7% or more. The total tax revenue was 655.3 billion yuan, a year-on-year increase of 12.86%; the corporate loss was 11.25%, an increase of 2.78 percentage points over the same period of the previous year.

Cai Weici said that from a comprehensive perspective, in 2012, the machinery industry achieved modest growth in major economic indicators such as production, sales and efficiency. At the same time, under the influence of the market reversal mechanism, the company's endogenous resilience is strengthening, and the transformation and upgrading of the industry is advancing. The market demand situation in 2013 will rebound moderately from 2012. The annual growth rate of production and sales is expected to be around 12%, the profit growth rate is around 8%, and the export growth rate is around 8%.

Machinery Industry

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