Machinery / Industrial Parts & Tools

The latest economic performance of the machinery industry in the first half of 2021 released by the China Machinery Industry Federation shows that due to the low base factor of the previous year, the main economic indicators of China's machinery industry grew at a high speed at the beginning of 2021, and the growth rate has shown a monthly decline thereafter. As of the first half of 2021, the year-on-year growth rate of the main economic indicators of China's machinery industry is still at a relatively high level. Among them, the added value of the machinery industry increased by 22.3% year-on-year, which was 6.4 and 5.2 percentage points higher than that of the national industry and manufacturing industry. It is estimated that the annual growth rate of the added value, operating income and total profit of the machinery industry can reach about 6%.

Chen Bin, Executive Vice President of the China Machinery Industry Federation, said that in the first half of the year, the machinery industry market demand gradually recovered, the operating environment continued to improve, the situation of foreign trade exports was better than expected, and the trend of stable production in the industry became more apparent. The machinery industry mainly involves five major categories of national economic industries, general equipment manufacturing, special equipment manufacturing, automobile manufacturing, electrical machinery and equipment manufacturing, and instrumentation manufacturing in the first half of the year. The added value increased by 24.3%, 20.1%, 21.8%, and 29.4% and 19.2%, the two-year average growth rate both exceeded 8%.

"In 2021, the overall economic operation of the machinery industry will show a trend of high and low. The growth rate of major economic indicators in the second half of the year has slowed down significantly compared with the first half. The growth rate of operating income and total profit can reach about 6%." Chen Bin said.