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"On the basis of further improving the work of transferring and adjusting the structure, China's machinery industry is expected to continue to maintain a steady growth trend," said Cai Weici, executive vice president of China Mobile. According to reports, since March, the machinery industry has produced and sold more than 1 trillion yuan in monthly output for four consecutive months. The machinery industry has generally continued its upward trend since the fourth quarter of last year, with 9 vehicles, Construction machinery and machine tools. The growth rate of the sub-sector is over 30%.
The import and export situation was also better than expected. The machinery industry achieved an export of 118.6 billion U.S. dollars, a year-on-year increase of 33.01%, and imports of 116.5 billion U.S. dollars, an increase of 47.01%. In terms of absolute quantity, the current import and export volume has exceeded and recovered to the level of 2008.
Since June last year, the growth rate of new output value of machinery industry began to increase month by month. In the first half of this year, the output value of new products in the whole industry was 1,244.053 billion yuan, a year-on-year increase of 41.46%, an increase of 33.15 percentage points over the same period of the previous year. At the same time, the growth rate of new product output is always faster than the growth rate of production and sales, and the output value of new products has also increased by 0.66 percentage points year-on-year.
Machinery industry profit reached a new high in the first half of 2010
At this time in 2009, due to the impact of the international financial crisis, China's machinery industry suffered a huge impact. In 2010, under the strong promotion of various national policies, the machinery industry finally overcome unprecedented difficulties and returned to the track of steady and rapid growth. In the first half of the year, the machinery industry completed a total industrial output value of 6.59 trillion yuan and a sales value of 6.44 trillion yuan, a year-on-year increase of 36.94% and 37.94% respectively. The total profit reached 353.642 billion yuan, a record high in the same period, a year-on-year increase of 86.13%, a sharp increase of 93.86 percentage points over the same period last year, much higher than the same period of production and sales growth. The China Machinery Industry Federation predicts that the growth rate of production and sales of China's machinery industry and the growth rate of profits will reach about 20% this year.