China's machinery industry showcased robust performance in the first half of the year, according to the China Machinery Industry Federation (CMIF). The sector not only maintained steady growth but also experienced significant advancements in intelligent and green technologies.
Essential products such as automobiles and electrical equipment saw rapid growth, with the automotive industry's added value increasing by 9.8 percent year on year. Additionally, the production of 122 mechanical products monitored by the federation surged by approximately 61.5 percent.
New momentum was driven by the rise of new energy vehicles (NEVs) and industrial robots. NEV production and sales grew by 30.1 percent and 32 percent respectively from the previous year, while the output of industrial robots increased by 9.6 percent.
The CMIF also highlighted that green energy power generation accounted for about 85 percent of the country's newly added installed capacity in the first six months. This emphasis on sustainability reflects the industry's commitment to reducing environmental impact.
Focusing on key areas and addressing weaknesses in the industrial and supply chains, the machinery industry has accelerated the research and development (R&D) of core technologies and equipment. Luo Junjie, executive vice president of the federation, noted that numerous independent R&D achievements emerged in the first half of the year, further enhancing the resilience and security of the industrial and supply chains.
Reference(s):
China's machinery industry sees stable performance, new momentum in H1
cgtn.com
