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The total profit of the machinery industry in the first half of the year increased by 14.69% year-on-year
On the 8th, the China Machinery Industry Federation released a report on the operation of the machinery industry in the first half of the year, showing a clear positive trend in the industry. The growth rate of major economic indicators exceeded expectations, achieving a main business revenue of 12.51 trillion yuan, a year-on-year increase of 11.6%, and a total profit of 857.6 billion yuan, a year-on-year increase of 14.69%.
According to Xinhua News Agency, unlike last year when it was mainly driven by the two major industries of automobiles and electrical appliances, the machinery industry in the first half of this year has improved, with double-digit growth in main business income in industries such as agricultural machinery, internal combustion engines, engineering machinery, and instrumentation. Among the newly added profits in the entire industry, industries other than automobiles and electrical appliances accounted for a total of 53.52%, a significant increase of 39.16 percentage points from the previous year.
Chen Bin, Executive Vice President of the China Machinery Industry Federation, said that the recovery of data related to the machinery industry is due to the active innovation and transformation of the entire industry, as well as the base factor, which is a recovery growth on the lower basis of the previous year. In addition, the growth of demand in the field of livelihood consumption also provides new space for the machinery industry.
However, it should also be noted that issues such as high costs and difficulty in financing still exist within the industry. The recent survey conducted by the China Machinery Industry Federation on some key enterprises shows that high labor costs, high financing costs, and high energy consumption are still problems in the production and operation process of enterprises. In addition, the rising logistics costs and rapid increase in raw material prices are also recent issues faced by enterprises.
Chen Bin predicts that the added value of the machinery industry will increase by about 8% for the whole year, and the total revenue and profit of the main business will increase by about 8%. The export of foreign trade is expected to end the two-year decline and the year-on-year growth rate will turn from negative to positive.
According to Xinhua News Agency, unlike last year when it was mainly driven by the two major industries of automobiles and electrical appliances, the machinery industry in the first half of this year has improved, with double-digit growth in main business income in industries such as agricultural machinery, internal combustion engines, engineering machinery, and instrumentation. Among the newly added profits in the entire industry, industries other than automobiles and electrical appliances accounted for a total of 53.52%, a significant increase of 39.16 percentage points from the previous year.
Chen Bin, Executive Vice President of the China Machinery Industry Federation, said that the recovery of data related to the machinery industry is due to the active innovation and transformation of the entire industry, as well as the base factor, which is a recovery growth on the lower basis of the previous year. In addition, the growth of demand in the field of livelihood consumption also provides new space for the machinery industry.
However, it should also be noted that issues such as high costs and difficulty in financing still exist within the industry. The recent survey conducted by the China Machinery Industry Federation on some key enterprises shows that high labor costs, high financing costs, and high energy consumption are still problems in the production and operation process of enterprises. In addition, the rising logistics costs and rapid increase in raw material prices are also recent issues faced by enterprises.
Chen Bin predicts that the added value of the machinery industry will increase by about 8% for the whole year, and the total revenue and profit of the main business will increase by about 8%. The export of foreign trade is expected to end the two-year decline and the year-on-year growth rate will turn from negative to positive.
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