General and special machinery industry fundamentals are still good

The National Bureau of Statistics announced the national general machinery sales revenue in October. From January to October this year, China's general machinery sales revenue totaled 331.118 billion yuan, a year-on-year growth rate of 31.03%, a slight decline from the 31.22% from January to September this year. From January to October, gross margin of general machinery fell slightly from 15.8% in January to September to 15.7%. From a single month's data, the national general machinery realized sales revenue of 360.2 billion yuan in October, a year-on-year increase of 29.4% and a month-on-month decrease of 4.49%. From January to October, the cumulative profit of China's general machinery reached 317.4 billion yuan, an increase of 28.21% year-on-year, a slight decline from the January-September profit growth of 28.71%, but the growth rate is still relatively fast. From January to October this year, the total sales revenue of special machinery for the country reached 2.04 trillion yuan, a year-on-year increase of 31.15%, a slight drop from the 31.6% growth rate from January to September. From a single month's data, in October, the sales revenue of special machinery for the country reached 227.8 billion yuan, a year-on-year increase of 27.7% and a decrease of 2.12% from the previous month.