Machinery industry enters medium-term growth period

Last year, China's machinery industry faced a complicated situation and still achieved moderate growth in major economic indicators, but the industry has entered a period of moderate growth. From the statistical data, it can be seen that in 2012, the growth rate of economic benefits of the machinery industry fell sharply, and the decline rate greatly exceeded production and sales. The total industrial output value and sales value achieved in the year totaled 18.41 trillion yuan and 18.04 trillion yuan, up by 12.64% and 12.54% year-on-year respectively.

In 2012, China's machinery industry increased by 8.4% year-on-year, an increase of 6.7 percentage points from the previous year, and 1.6 percentage points lower than the national average growth rate (10%) over the same period. Cai Weici, executive vice president of the China Federation of Machinery Industry, said that this is the first time that the machinery industry has fallen below the average growth rate of industrial added value in the country for many years, indicating that the machinery industry faces particularly severe challenges in this round of adjustments.

Weak demand at home and abroad led to insufficient orders and a drop in product prices. In 2012, the price index of machinery products was always below 100, indicating that the overall price of products was in a downward trend. At the same time, the increase in the number of orders for enterprises has decreased significantly, and the statistics of key enterprises in the machinery industry show that the cumulative order value for each month during the year was negative year-on-year.