The main economic indicators of mechanical industry rebounded rapidly last year, with the main business revenue up to RMB 24.55 trillion yuan
The main economic indicators of mechanical industry in China has rebounded on a basic level since 2016 over the previous year. Mr. Cai Weici, deputy director of Expert Committee of Machinery Industry Association remarked the machinery industry in China is expected to continue to move in a good momentum in 2017.
Data indicated that the growth of machinery industry in 2016 showed an rising trend, up 9.6% from January to December. In addition, the growth pace of main business revenue of machinery industry was increased, achieving 24.55 trillion yuan, up 7.44% year on year, a rise of 4.12 percentage point compared with the same period last year. According to the trend in a whole year, the growth pace was increasing higher than the average level month by month .
At the same time, the sluggish demand of machinery industry has not been obviously improved. The total orders of major enterprises of machinery industry from January to December increased by 10.37% YoY, despite a rebound over last year, but the order was not stable yet. The foreign trade of machinery industry remained sluggish, resulting in a negative growth in 2016.
Mr. Cai Weici said, the yearly growth rate of machinery industry in China is expected to reach about 7%, that of the main business revenue and profit around 6%, while the decline of foreign trade exports lower than the previous year.
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