China Machinery Industry is Expected Double-Digit Growth in 2011

2011-10-17

Ruixiang Wang President of China Machinery Industry Federation has said that in ten years the number of the large-scale companies of China machinery industry grew from 34,000 to 107,000 companies; the number of employees reached 17 million; the capital scale increased from RMB2 trillion to RMB10 trillion. The gross value, added value and realized profit of machinery industry were all ten times higher than those of 2000. In 2010, the growth has reached a record high at an annual increase of RMB3 trillion. Both the realized output value and sales value have surpassed RMB14 trillion and the contribution rate of the national industry new added gross output value has reached 22.3%. The production and sales scales of China machinery industry have continuously expanded during January to August in 2011; the production and sales values were respectively RMB10.66 trillion (a YoY increase of 26.42%) and RMB10.4 trillion (a YoY increase of 26.16%), maintaining the higher growth momentum as the top position among the national industries. The accumulative realized gross import and export values from January to July were USD355.695 billion, increasing 26.33% over the same period last year. The balance of trade in the first half has changed from the state of trade deficit to trade surplus and the trade surplus was USD1.771 billion. A comprehensive study analyzed that the operation rate of China machinery industry in 2011 will grow steadily and is expected to realize double-digit growth promisingly.