China's Machinery Industry Transition In The First Half Of The Year

The benefit of machinery industry continued the rebound momentum in the second half of last year. The growth rate of profit was faster than that of income. From January to June, the industry realized a total profit of 715.3 billion yuan, an increase of 19.58% compared with the previous year; the main business income of 10.4 trillion yuan, an increase of 11.52%. Since the beginning of the year, the profit margin of the main business of machinery industry has maintained a rebound momentum, with a profit margin of 6.86% in January-June, an increase of 0.46 percentage points over the previous year. Regarding the reasons for the rebound in profit margin, Chen Bin, vice president of China Online Online, said that on the one hand, the prices of energy and raw materials decreased year on year, and on the other hand, the transformation and upgrading achieved tangible results.

There are obvious differences in economic operation among different industries of machinery industry. Among them, the production and sales of automobiles grew rapidly, reaching 11.78 million and 11.68 million in the first half of the year, respectively, an increase of 9.6% and 8.36% over the same period of last year. The related products encouraged by national industrial policies such as consumption and environmental protection grew better, such as wind power equipment, internal combustion engine, analytical instruments, optical instruments, pumps, fans, air separation equipment, compressors and environmental protection facilities. The output of spare parts and motors increased greatly. The growth trend of products which are closely related to investment, real estate, steel, coal and other industries is sluggish. The recovery of construction machinery industry in the first quarter was obvious, but it fell back again in April and may. Because of the low base of machine tool industry, the output of main products has been reduced to increase since this year. Among them, CNC machine tools have increased by 17.66%, which is 12 percentage points higher than that of gold cutting machine tools. Agricultural machinery industry is affected by the slowdown of market demand. Although the situation is still acceptable at the beginning of the year, the output of large and medium-sized tractors decreases month by month, and the cumulative output of large and medium-sized tractors has all increased negatively in the first half of the year. The related products of power transmission and transformation equipment have increased in varying degrees.

In addition, in the first half of the year, the total investment in fixed assets in machinery industry was 1.99 trillion yuan, an increase of 15.74% compared with the same period last year. Among them, the growth rate of fixed assets investment in June was 17.88%, which shows that enterprises'expectations of the market are better. The situation of import and export trade is better than that of the previous year, with an increase of 88.87%. Among them, import is 155.9 billion US dollars, an increase of 10.96%. Export is 191.7 billion US dollars, an increase of 7.22% compared with the previous year, and the trade surplus is 35.8 billion US dollars.