Information Details
The market is tight, and the machinery industry is expected to continue its moderate growth trend in 2014.
In 2013, the mechanical industry faced increasingly significant operational difficulties, and the pressure to change the development model intensified sharply. Nevertheless, the mechanical industry still achieved moderate growth, with main business revenue surpassing 20 trillion yuan for the first time, an increase of 13.8% compared to the previous year.
At a recent press conference on the economic operation of the mechanical industry for the whole year of 2013, Cai Weici, Executive Vice President of the China Machinery Industry Federation, stated that this year, the external environment for industry development remains generally tight, and weak demand will be one of the main difficulties faced by the industry. He suggested that enterprises accelerate transformation and upgrading, implement technological renovations, and quickly move towards the international market. According to forecasts, in 2014, the growth rate of production, sales, and profits in the mechanical industry is expected to be around 12%, with an export growth rate of about 8%.