China machinery industry sees low revenue growth, weighed down by auto sector
Views :284
| Exhibition Info
Exhibition Name: China machinery industry sees low revenue growth, weighed down by auto sector
| Exhibition introduction
A technician works on the production line of a Volkswagen plant in Shanghai. [Photo/Xinhua]

BEIJING - Revenue growth of China's machinery industry weakened last year, weighed down by the sluggish auto sector, according to a report from the China Machinery Industry Federation.

Revenues totaled 21.76 trillion yuan ($3.11 trillion) in 2019, up 2.46 percent year-on-year. The growth rate was 1.39 percentage points lower than the national industrial average.

The machinery industry's value-added output, an important economic indicator, stood at 5.1 percent, compared with the national average of 5.7 percent.

The machinery industry became much divided last year, as the auto sector was a significant underperformer, but robot and intelligent manufacturing posted brisk growth.

Profits of China's auto sector fell 15.3 percent year-on-year last year amid softening domestic demand, with revenues retreating 1.66 percent. Bucking the trend, engineering machinery, robots and intelligent manufacturing reported double-digit growth in revenues.

Source: Xinhua
经营许可证编号:粤B2-20210752号丨备案号:粤ICP备09029740号
粤公网安备 44011102001662号
技术支持:广东金蜘蛛电脑网络有限公司
Golden Spider Network Co., Ltd.