Machinery sector rises steadily
Print Edition
Growth in China鈥檚 machinery sector was stable in the first half of this year with solid progress in industrial upgrading, an industry group said.
Chen Bin, executive vice president of the China Machinery Industry Federation, said the industry saw stronger endogenous growth momentum.
Production boomed in passenger vehicles and other consumer products, machinery used for water pollution control and broader environmental protection, and intelligent manufacturing equipment in the first six months, Chen said.
鈥淭he industrial transformation deepened,鈥 Chen said, citing faster growth in fixed asset investment, and progress in import substitution of core components of crucial technological equipment.
鈥淭he machinery sector will hold steady in this year,鈥 he said.
Combined profits climbed 6.73 percent year on year in January to June, slower than the national industrial average, according to CMIF data.
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