Home Business China’s machinery industry reports revenue growth in H1 2022

China’s machinery industry reports revenue growth in H1 2022

by Dubai Forum
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BEIJING, 9th August, 2022 (WAM) — China’s machinery industry registered steady expansion in revenue in the first half of the year, according to the China Machinery Industry Federation (CMIF), Chinese News Agency (Xinhua) reported.

The operating revenue of firms in the sector totaled 12.95 trillion yuan (about US$1.9 trillion) during the period, up 5.44 percent year-on-year, according to data from CMIF.

The added value of the sector rose 0.7 percent year-on-year during the period, the data showed.

The federation attributed the expansion to a package of pro-growth measures since the beginning of the year.

The total export volume of the machinery industry also saw a year-on-year increase of 10.41 percent, showing the resilience of the sector, said Chen Bin, Executive Vice President of CMIF.

Looking ahead, more efforts should be made to ensure solid implementation of the pro-growth policies, stabilise industrial chains and solve the difficulties facing enterprises, Chen added.

WAM/Khoder Nashar

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