China's machinery industry is expected to maintain double-digit growth.

Business News
2018/01/24 14:35
In 2018, China's machinery industry will gradually increase its resilience. The whole industry is expected to maintain double-digit growth and its export growth will be about 8%.
In 2017, China's machinery industry stopped the previous two consecutive years of declining trend, achieving medium-speed growth. In the process of making a "power to make power," its development momentum has been shifted from relying on the growth of product output toward driving the reliance on product upgrades and innovative services.
According to the China Machinery Industry Federation, in the first 5 months of 2017, the economic operation of China's machinery industry has been steadily progressing. The industrial added value of the entire industry has been increased by 11 to 10 percent. The major indicators are obviously higher than the national industrial average. At the same time, the first five months of China's machinery industry there are several issues, such as the demand is not strong, the price remains sluggish, competition intensified.
It is worth noting that in the first half of this year, the division among the major sub-sectors of China's machinery industry intensified, and the trend will continue in the future. In addition, downward pressure on the entire industry still exists, and the problems of construction machinery and agricultural machinery industry are more prominent.
All in all, China's machinery industry is now shouldering the important mission of transformation and upgrading. The internal and external environment in which it operates is still complex and volatile, and the economic operation of the industry remains difficult.
The relevant person in charge of China Machinery Industry Federation pointed out that if China's machinery industry needs to get out of its predicament, it must quickly abandon the competition mode that simply scrambles for expansion of scale and price to compete for "economies of scale". In addition, but also in products, services, business models continue to innovate.
From this year's full year, the overall demand of China's machinery industry will remain weaker, and the development of the industry will maintain its stable main tone.
Insiders said that at present, the central and local governments have achieved steady growth and the macroeconomy is expected to further improve in the second half of the year, which will provide strong support to the Chinese machinery industry.


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