BEIJING, Feb. 26 (Xinhua) – China’s machinery sector will maintain steady growth this year, China Securities Journal citing Chen Bin, executive vice president of the China Machinery Industry Federation (CMIF) as saying on Monday.
The value-added output and the main business revenue of the sector were expected to rise about 6.5 percent year on year, respectively, Chen said.
Chen also predicted that the industry’s total profit will rebound to around 5 percent due to the impact of the low base in 2018. Exports of the industry will grow moderately, but it is more difficult to realize than 2018.
According to data from the CMIF, the machinery industry saw stable growth in 2018. Its value-added output grew 6.3 percent year on year by the end of 2018, 0.1 percentage points higher than the country’s value-added industrial output, while 0.2 percentage points lower than the value-added growth of the manufacturing industry.
Data showed that the industry realized 21.38 trillion yuan of revenue from main business in 2018, an increase of 6.05 percent year on year and pocketed 1.45 trillion yuan of profit last year, up 2.18 percent year on year. (Edited by Yang Yifan, yangyifan@xinhua.org)
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