China's machinery industry production and investment have both seen stable growth in the first four months of the year, according to data released by the China Machinery Industry Federation on Friday.
The data reveals that the value added of the five key sectors of the machinery industry maintained growth from January to April. Specifically, the manufacturing of general-purpose machinery grew by 9 percent, special-purpose machinery by 4 percent, automotive by 11.2 percent, electrical machinery and apparatus by 12.7 percent, and measuring instruments and meters by 9.2 percent.
Regarding fixed asset investment, the investment in general-purpose machinery manufacturing sector increased by 17.9 percent, special-purpose machinery manufacturing by 8.4 percent, automotive manufacturing by 23.6 percent, while investments in the electrical machinery and apparatus sector saw a decline of 7.5%, and measuring instruments fell by 15.1 percent.
The China Machinery Industry Federation also noted that among representative products in the machinery industry, the cumulative production of metal cutting machine tools in the first four months reached 260,000 units, a 16.8 percent year-on-year increase. The cumulative production of industrial robots reached 221,000 units, reflecting an even more robust growth of 34.1 percent.
From the perspective of key indexes, the macroeconomic policy measures have been taking effect in the first four months of this year, boosting the growth of production and supply. In addition, driven by the enhanced dual policies on promoting large-scale equipment upgrades and consumer goods trade-ins, as well as vibrant industrial upgrades, the equipment manufacturing sector continued its rapid growth. As the consumer goods trade-in policy continues, China's domestic demand has seen a steady expansion.
China's machinery industry sees steady growth from Jan to April
