Production value of China machinery industry hits record RMB1.72 trillion in June
In the first half of 2012, production value totaled RMB8.7 trillion and sales value achieved RMB8.5 trillion, the figures increased by 12.17% and 11.69% year on year respectively. However, compared with the same period of last year, there were 2,863 more industry players suffered a loss, and the percentage of loss-incurring enterprise rose by 3.82%.
During the same period mentioned above, total fixed asset investment of China Machinery Industry was RMB1.53 trillion, up 28.8% year on year but was 12.97 percentage point lower than in 2011. CMIF expects that fixed asset investment continue to decrease.
Machinery prices were low this year and keep on decreasing. However, CMIF reveals that the demand is starting to go up. Growth of production and sales for the whole year is expected at 14% while profits will rise by 5%.