The sector’s added value went up by 9.7 per cent from a year ago in the January-June period, as per the China Machinery Industry Federation (CMIF).
The strategic emerging industries in the machinery sector saw a 10.4 per cent increase in business revenue and a 15.6 per cent increase in profits, respectively. Innovations within the industry seem to be at the core of this growth, with the number of innovation platforms reaching 260 by the end of June, thus bolstering the stability of the industrial chain.
The total export volume increased by 10.41 per cent, displaying the sector’s resilience.
Chen Bin, CMIF’s executive vice-president, emphasised the need for ongoing efforts to ensure solid implementation of pro-growth policies, stabilising industrial chains, and resolving enterprises’ difficulties, according to local media reports.
The expansion was attributed by the federation to a comprehensive package of pro-growth measures that have been implemented since the start of the year.
ALCHEMPro News Desk (NB)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
