The total output value of the machinery industry hit 2,068.762 billion yuan (US$249.25 billion) from January to August this year, a 29.41 percent rise year-on-year.

As learned from China Machinery Industry Federation, from January to August, the output value of new products registered by the machine-building industry hit 420.987 billion yuan, up 23.19 percent over the same period last year.

Among the 13 large industries, the output values of six sectors were higher than the average level of the national machinery industry, namely, culture and office equipment, petro-chemistry, heavy-duty mining machines, machine tools, electrical products and equipment as well as basic parts.

Among these industries, the growth rates of the output value of new products higher than that of total output value listed in proper sequence are as follows: electrical products and equipment, machine tools and basic parts industries.

These industries have achieved tangible results in the optimization of product mix.

(People's Daily October 10, 2004)