China's machinery industry growth is expected to stop falling and stabilize

According to the China Machinery Industry Federation, the production and sales of China's automobile industry were sluggish in the first half of this year, which led to a downturn in the growth rate of China's machinery industry as a whole due to the heavy weight of the industry. In the second half of the year, the effect of relevant favorable policies is expected to be obvious, and the growth rate of China's machinery industry is expected to stop falling and stabilize.

Reporter learned at the 4th Sixth Membership Conference of China Machinery Industry Federation and the National Machinery Industry Advanced Collective Labor Model Recognition Conference on 25th that in China's Machinery Industry in 2019, the value-added of the automotive industry declined the deepest and continued to decline in April and May, while the value-added of non-automotive industry was better in May than in April, and most of its indicators were still higher than the average level of all industries. At the meeting, Wang Ruixiang, President of China Machinery Industry Federation, made a report entitled "To adapt to the new situation, to improve the quality and to strive for the full realization of the 13th Five-Year Plan of Machinery Industry".

He pointed out in his analysis of the current situation facing the machinery industry that the world is facing unprecedented changes in a century. The world economic growth is slowing down, trade protection is intensifying, and the digital economy has a great impact on globalization. The sustained development of China's domestic economy faces both risks and challenges and rare opportunities. China's enormous market advantage, the reform advantage of seeking change and the unique institutional advantage are the greatest underpinnings for the sustainable development of China's economy. Wang Ruixiang emphasized that although China's machinery industry has maintained steady development under the complex and changeable external situation, it still faces many difficulties and challenges. The industry's economic operation is stable, slow and worrying, and the problem of large and weak industries has not been fundamentally solved. In the future, China's machinery industry will accelerate its transformation and upgrading, with independent innovation as the core to complement the shortcomings, so as to achieve high-quality development.

The industry expects that the growth curve of China's machinery industry will show a trend of low and rising this year. As long as the conversion of kinetic energy is accelerated, China's machinery industry will surely turn its energy crisis into an opportunity, from big to strong.