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Machinery sector slows
Source: Xinhua |
July 24, 2012, Tuesday
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A slowdown in China's economy has impacted the machinery industry, weakening industrial activity, slashing orders and eroding enterprises' profitability, an industry association said yesterday.
The industrial value-added output of the sector, which accounts for nearly 20 percent of the country's total industrial production, rose 9 percent year on year in the first six months of the year, sharply down from a 16.2 percent increase registered last year, said Cai Weici, vice president of the China Machinery Industry Federation.
Orders at major machinery enterprises dipped 0.95 percent in the first half of the year, compared to rises of more than 20 percent registered in the same period over the last few years, Cai said.
The industrial value-added output of the sector, which accounts for nearly 20 percent of the country's total industrial production, rose 9 percent year on year in the first six months of the year, sharply down from a 16.2 percent increase registered last year, said Cai Weici, vice president of the China Machinery Industry Federation.
Orders at major machinery enterprises dipped 0.95 percent in the first half of the year, compared to rises of more than 20 percent registered in the same period over the last few years, Cai said.
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