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Chen Bin:Status and Development Opportunity in Machinery Industry

https://en.steelhome.com [SteelHome] 2019-04-22 16:22:40

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15th Steel Development Strategy Conference, host by SteelHome, was successfully held in International Convention Center during April 12-14, 2019. Around 1000 delegates from governments, associations, steel mills, miners, traders, research institutes attended the one of biggest events in China steel industry.

8th International Raw Materials Supply Chain Summit, 9th Coal & Coke Development Strategy Conference, 7th China Commodities E-Commerce Summit and 2019 SteelHome Spring Report were simultaneously held.

Chen Bin, Executive Vice President, China Machinery Industry Federation reported Status and Development Opportunity in Machinery Industry at the summit forum of New Trends & New Changes of Downstream Industry on the morning of April 14th.

 

Chen Bin, Executive Vice President, China Machinery Industry Federation

Summary of Speech

I Review of economic performance in 2018

1. The growth rate of the added value slows down: the growth rate of the added value of the machinery industry was 6.3% in 2018.

2. Economic efficiency maintained growth: In 2018, the accumulated main business income was 21.38 trillion yuan, a year-on-year increase of 6.05%; the total accumulated profit in 2018 was 1.449 trillion yuan, a year-on-year increase of 2.18%.

3. Products output mixed: Among the 120 major products that were monitored in 2018, 56 of which was in a year on year growth, while 64 of which was in a year on year decline.

4. The investment downturn has improved: In 2018, the national fixed asset investment (excluding farmers) was 63.56 trillion yuan, an increase of 5.9% over 2017, and manufacturing investment increased by 9.5% year-on-year.

5. Foreign trade imports and exports maintain growth

II Economic performance in January-February 2019

Low growth in added value; economic efficiency declined; product output saw ups and downs; fixed asset investment continued to improve; foreign trade was not optimistic.

III Issues that need attention in economic operation

The impact of Sino-US trade friction on the machinery industry; market demand is still sluggish, the lack of orders is still continuing; the price index continues to remain low, the price rise space is limited; cost pressure is large, and efficiency improvement is difficult; total amount of accounts received is large, and the operating efficiency is reduced.

IV Prospects for economic development in 2019

It is estimated that the economic operation of the machinery industry will be relatively stable in the whole year of 2019. The industrial added value and the main business income will be around 6.5%. The profit growth rate will be around 5%, affected by the low base of 2018.


(To contact the reporter on this story: leo.ji@steelhome.cn or 86-555-2238932)
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