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2023 China’s machinery industry added value in the first half of the year rose 9.7% year-on-year

by Anna

China Machinery Industry Federation has released data showing that: in the first half of this year, the value-added of the machinery industry increased by 9.7 per cent year-on-year, higher than the growth rate of industry and manufacturing industry in the same period of 5.9 and 5.5 percentage points, the machinery industry’s economic operation is stable and progressing.

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Industry benefits rapid recovery. Thanks to technological innovation to lead the optimisation and upgrading of product structure, machinery industry economic efficiency indicators rebound. In the first half of the machinery industry total operating income of 13.6 trillion yuan, up 9.4%, total profits of 775.17 billion yuan, up 12.2%.

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Emerging industries have good momentum. China’s self-developed world’s first 10-metre ultra-high intelligent coal mining machine off the line; the world’s first green shield machine, the world’s largest tonnage hydrogen energy mining trucks have been put into use …… a number of intelligent, green major equipment to achieve breakthroughs. In the first half of the machinery industry strategic emerging industries related industries to achieve a cumulative operating income of 10.9 trillion yuan, total profits of 607.92 billion yuan, an increase of 10.4%, 15.6% respectively.

Solid and stable chain has made progress. As of the end of June, there were 260 innovation platforms listed and approved for construction in the machinery industry. Focusing on short boards and aiming at the stuck and broken points of the industrial chain, the machinery industry has increased its R&D efforts, and new progress has been made in upgrading basic capabilities and stabilising the chain.

Foreign trade maintained growth. The machinery industry in the first half of the cumulative total import and export of 536.1 billion U.S. dollars, an increase of 5.1 per cent year-on-year. Made in China to join more widely in the construction and development of countries around the world, the first half of China’s machinery industry has provided machinery and equipment for more than 230 countries and regions.

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