China’s machinery industry to stay on healthy growth track

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It was understood from China Machinery Industry Federation that the machinery industry’s added value grew by 4% year on year in 2022, 0.4% higher than the national industry’s added value.

It was expected that the economic operation of the machinery industry in 2023 will show a stable and positive trend.

By the end of 2022, there were 111,000 enterprises above the scale of the machinery industry, an increase of 12,000 over the previous year. Total assets amounted to CNY 32.5 trillion, up by 13.1% year on year, accounting for 20.8% of the total industrial assets of the country.

In 2022, the strategic emerging industries of the machinery industry played a positive leading role. Throughout the year, industries related to strategic emerging industries in the machinery industry achieved a combined operating income of CNY 23.1 trillion, an increase of 13% year on year. Total profit of CNY 1.4 trillion was achieved, an increase of 15.5% year on year.

16 Feb 2023 reported by Machinery News