Machinery industry continues stable and high-speed development in the first half
At the 2007 Machinery Industry Development Trends Forum held on July 27, Cai Weici, Vice President of the China Federation of Machinery Industry, shared insights into the performance and future outlook of the sector. He noted that in the first half of the year, the machinery industry experienced steady and rapid growth, with a strong momentum continuing into the second half. However, he also highlighted that the growth rate was expected to moderate slightly, showing a more balanced trajectory.
From January to June, the industry saw a robust start, with the gross output value growing at nearly 30% compared to the same period last year. Each month recorded a growth rate exceeding 30%, marking the 54th consecutive month since 2003 that the monthly growth rate remained above 18%. Despite this high-speed expansion, regional development remained relatively balanced, and the overall quality of industrial operations was strong. For instance, the petrochemical general machinery sector reported a 32.91% year-on-year increase in total output value and a 39.5% rise in total profits.
Looking ahead, Cai predicted that the growth rate would slow down in the second half of the year, though production and sales were still expected to grow by approximately 25% compared to the first half. While the industry is thriving, he emphasized the need to remain cautious about potential risks and challenges. These include the pressure from rising production costs, raw material shortages, and the risk of overcapacity due to low-level, repetitive expansion.
Additionally, the increasing import of advanced machinery equipment, as encouraged by the government, could impact domestic manufacturers. Cai pointed out that while growth in orders has been strong, it has not kept pace with total output. Therefore, he stressed that the industry should shift its focus from sheer volume to structural optimization and efficiency improvement. Encouraging innovation, investing in key processes, and developing high-value, energy-efficient equipment are essential steps for sustainable development. The goal should be to move towards a more intelligent and high-quality growth model rather than relying solely on expansion.
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