The annual growth rate of the machinery industry is expected to
remain high at more than 20 percent for the consecutive years from
2003 to 2007, according to a report from today's China News
Service.
The industrial output, industrial added value, main business
income, total profits and exports are expected to maintain high
growth rates of 25 percent, said the news.
Statistics from the China Machinery Industry Federation show
that the machinery industry has an added value of 731.4 billion
yuan (US$96.61 billion) in the first five months of this year, up
33.8 percent year on year.
During the period, the gross industrial output reached 2.660
billion yuan, up about 31.8 percent year on year, contributing 20.8
percent to the newly added total.
In the first five months of this year, the 13 sectors in the
machinery industry saw an average growth rate of more than ten
percent, with 31.2 percent in the automobile sector and 34.2
percent in electrical engineering.
The automobile and electrical engineering sectors account for
57.3 percent of the machinery industry, and contribute 58.4 percent
to the industry's newly added industrial output.
The China Machinery Industry Federation said the development of
the machinery industry is going smoothly this year, with industrial
upgrades resulted from energy-saving policies and more construction
on infrastructure facilities.
Meanwhile, the export tax rebate cut, a move intended to rein in
exports of labor-intensive products, will adjust exports structure,
especially for automobiles and machinery equipment, it said.
(China Daily July 13, 2007)
