China Large-scale Machinery Industry Rose 5.4% in First Two Months

Resource from: CBCC Likes:2916

Mar 30,2009

Industrial output of China's large-scale machinery sectors rose 5.4 percent year-on-year in the first two months of 2009, the Ministry of Industry and Information Technology said in a recent report. Farm machinery and equipment industry surged as more subsidies were granted. In February alone, the production of large and medium-sized tractors rose 51.4 percent and 60.1 percent, respectively, the ministry said. Heavy machinery and equipment sector, driven by the country's ambitious infrastructure investments, also saw a rise. From January to February, manufacturing of equipment for mining, cement and metal smelting all rose between 4 to 16 percent. Benefiting from a series of boosting measures, such as tax cut, auto producers have sold 1.56 million cars in the first two months, up 2.7 percent over the same period last year. Large-scale shipping industry saw a 43.9 percent growth over the same period last year. Its total industrial output stood at 67.9 billion yuan (9.94 billion U.S. dollars), the ministry said.

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