Steady Revenue Increase

In H1 2023, China's machinery industry demonstrated unwavering growth, with firms collectively generating an operating revenue of 12.95 trillion yuan, reflecting a 5.44% YoY rise.

Value Addition Surge

The sector's value addition spiked by 9.7% during January to June compared to the previous year, a substantial gain according to the China Machinery Industry Federation (CMIF).

Emerging Sectors Flourish

Strategic emerging industries within the machinery sector flourished, with business revenue climbing by 10.4% and profits surging by 15.6%. Innovation emerged as a driving force, with 260 innovation platforms established by June, enhancing industrial stability.

Resilient Export Performance

The sector showcased resilience as total export volume surged by 10.41%, underlining its adaptability to changing conditions.

Expansion Credits Pro-Growth Measures

The federation attributes this expansion to a comprehensive pro-growth measures package implemented since the year's inception.