Highlights in the semi annual report of the mechanical industry: Expected growth rate of major economic indicators in 2023 is about 5%. China | mechanical industry | economic indicators

The China Machinery Industry Federation released data today showing that in the first half of this year, the main economic indicators of China's machinery industry achieved rapid growth.

The main economic indicators of the mechanical industry achieved rapid growth in the first half of the year

Since the beginning of this year, China's machinery industry economy has made steady progress, achieving a stable start in the first quarter and maintaining an upward trend in the second quarter. The industry economy has shown multiple highlights. In the first half of the year, the added value of the mechanical industry increased by 9.7% year-on-year, higher than the national industrial and manufacturing growth rates of 5.9 and 5.5 percentage points during the same period. Among them, the electrical machinery and equipment manufacturing industry and the automobile manufacturing industry have played a prominent driving role, with added value growth rates reaching 15.7% and 13.1%, respectively.

In terms of product production and sales situation, among the 120 main products monitored by the mechanical industry in the first half of the year, 58 products saw a year-on-year increase in production. The utilization rate of production capacity has steadily rebounded. In the first half of the year, among the major categories of national economic industries involved in the mechanical industry, the utilization rate of production capacity in the general equipment, specialized equipment, automotive and electrical machinery and equipment manufacturing industries all exceeded 70%. In addition, economic benefits have also achieved rapid growth.

Luo Junjie, Executive Vice President of China Machinery Industry Federation: Technological innovation in China's machinery industry leads the optimization and upgrading of product structure, promoting the steady improvement of major economic indicators in the machinery industry. In the first half of the year, the mechanical industry achieved a cumulative operating income of 13.6 trillion yuan, a year-on-year increase of 9.4%.

At the same time, Luo Junjie said that in terms of fixed assets investment, fixed assets investment in the major sectors of the national economy involved in the machinery industry grew in the first half of the year. In addition, the mechanical industry achieved a total import and export volume of 536.1 billion US dollars in the first half of the year, a year-on-year increase of 5.1%. We achieved a trade surplus of 249.1 billion US dollars, a year-on-year increase of 41.2%.

Multiple highlights of industry operation in the first half of the year

The data released by the China Machinery Industry Federation shows that in the first half of this year, the operation of China's machinery industry showed multiple highlights.

In terms of boosting the green transformation of energy, a batch of internationally advanced equipment was put into use and the level of localization was significantly improved. In the first half of this year, the energy equipment manufacturing industry achieved a cumulative operating revenue of 2.9 trillion yuan and a total profit of 138.88 billion yuan, a year-on-year increase of 13.9% and 18.1%.

In terms of intelligent and green transformation, in the first half of the year, the strategic emerging industries related to the mechanical industry achieved a cumulative operating income of 10.9 trillion yuan and a total profit of 607.92 billion yuan, a year-on-year increase of 10.4% and 15.6%, with a growth rate higher than that of the mechanical industry by 1 and 3.4 percentage points. The world's first green shield tunneling machine and the world's largest tonnage hydrogen energy mining truck have successively been taken offline and put into use. In addition, the development vitality of China's machinery industry's foreign trade has been further enhanced.

Luo Junjie, Executive Vice President of the China Machinery Industry Federation: In the complex and ever-changing international economic and trade environment, the scale of foreign trade in the machinery industry has steadily increased, the structure of export products has been continuously optimized, and the international market competitiveness has been further enhanced. The export of high-tech products has significantly increased. In the first half of the year, the "new three types" of new driving forces for China's foreign trade growth - electric passenger vehicles, lithium batteries, and solar cells - all came from the machinery industry, with export amounts increasing by 163.8%, 58.1%, and 10.4% year-on-year, respectively.

Luo Junjie stated that Chinese manufacturing has become more widely involved in the construction and development of countries around the world. In the first half of this year alone, the machinery industry has provided mechanical equipment to more than 230 countries and regions worldwide. The construction of innovation system in China's mechanical industry is also steadily advancing. As of the end of June, the number of innovation platforms listed and approved for construction in the mechanical industry has reached 260. At the same time, China's machinery industry focuses on the problem of shortcomings, targeting the problems of blockages and breakpoints in the industrial chain. The machinery industry has increased its research and development efforts, improved basic capabilities, and made new progress in fixing and stabilizing the chain.

The expected growth rate of major economic indicators in 2023 is about 5%

The relevant person in charge of the China Machinery Industry Federation also stated that the economic operation of China's machinery industry will maintain a stable growth trend in the second half of this year, and it is expected that the growth rate of major economic indicators will be around 5%.

Industry insiders have stated that with the overall recovery of the demand market and the support of various national policies, the mechanical industry operated steadily in the first half of the year, laying a solid foundation for achieving the expected annual goals. Looking ahead to the second half of the year, favorable factors for the operation and development of the mechanical industry are gradually being released. The macroeconomic policy regulation has been strengthened, and a series of policy measures have been intensively introduced recently to promote consumption, stabilize investment, and improve the business environment, which will further unleash market potential. Secondly, with the further commencement of construction of major projects and key projects in the 14th Five Year Plan, infrastructure construction has accelerated, and the transformation of traditional industries towards high-end, intelligent, and green development has accelerated. The demand market is expected to accelerate its recovery.

Luo Junjie, Executive Vice President of China Machinery Industry Federation: We expect the growth rate of indicators such as added value, operating revenue, and total profit of the machinery industry to be around 5% in 2023, and the import and export of foreign trade to be basically stable.