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CMIF: Analysis, Problems and Trend Prediction of Current Mechanical Industry Economy

https://en.steelhome.com [SteelHome] 2020-08-19 18:38:43

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On August 14-16, 2020, 16th Steel Development Strategy Conference, hosted by SteelHome, was successfully held in Shanghai Tower. Around 800 delegates from governments, associations, steel mills, miners, traders, research institutes attended the one of biggest events in China steel industry.

9th International Raw Materials Supply Chain Summit, 10th Coal & Coke Development Strategy Conference, 8th China Commodities E-Commerce Summit and 2020 SteelHome Summer Report were simultaneously held.

Chen Bin, executive vice president of China Machinery Industry Federation, delivered a report on Analysis, Problems and Trend Prediction of Current Mechanical Industry Economy on August 16

Chen Bin, executive vice president of China Machinery Industry Federation

Summary of speeches: 

1. Since the second quarter, the production and operation order of machinery industry enterprises has been basically restored, and the main economic indicators have risen sharply. The characteristics of product output growth are as follows: the recovery of investment product market is faster than expected, and the recovery of consumption product market is slower than expected. First, thanks to the recovery and start-up of infrastructure investment and energy construction related projects, the production of construction machinery, power generation, power transmission and transformation products has rebounded rapidly. From January to June, the output of excavators, compaction machinery and concrete machinery increased by 22.36%, 14.66% and 32.40% respectively, all faster than that from January to May. According to the statistics of the association, the cumulative sales volume of excavators from January to June increased by double-digit, and the growth rate in June was as high as 62.9%. Second, the production of some agricultural machinery products recovered quickly. Third, the production of products related to information infrastructure construction, people's livelihood infrastructure construction and intelligent manufacturing is picking up. Fourth, automobile production and sales continued to stabilize. Production of passenger cars picked up slowly.  

2. In terms of heavy machinery industry, with the gradual completion of large-scale transformation and upgrading of steel, coal, refining and mining industries, the market demand will be weakened in 2020. In addition, the economic recession caused by the continuous spread of the global epidemic has a direct impact on the confidence of investors, and has a greater impact on the export orders of the heavy machinery industry. In the second half of the year, if there is no major epidemic and trade fluctuation, it is expected that the heavy machinery industry will maintain a certain growth rate in the whole year.

3. In the second half of the year, the overall development environment of the industry is better. Meanwhile, the trend of the major sub industries which account for more than 80% of the machinery industry tends to improve. It is expected that the economic operation of the machinery industry in the whole year will gradually recover. The industry added value, operating income, total profit and other indicators are expected to achieve a small positive growth.

(To contact the reporter on this story: jake.yang@steelhome.cn or 86-21-50585733 13816581143)
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