Home » Business » Manufacturing
Machinery sector set to expand slower in 2017
Print Edition
CHINA’S machinery industry is likely to see stable but slower growth in 2017 due to weak demand amid downward economic pressure, an industry group forecast yesterday.
The annual growth of the sector’s value-added industrial output may slow to 7 percent in 2017 from 9.6 percent in 2016, while the business revenue increase would slow to 6 percent from 7.44 percent last year, according to data released by the China Machinery Industry Federation.
As China was trying to reorient the economy away from its reliance on exports and investment toward a consumption and service-driven model, traditional industries such as steel, coal, power generation, oil and chemicals were undergoing restructuring, and demand for machinery products would remain weak, said a federation statement.
Growth of fixed-asset investment in the machinery industry slowed to 1.7 percent in 2016 from 9.7 percent in 2015, the fifth straight year of decline
However, as China’s economic restructuring continued apace, machinery industries in consumption, environment protection and high-tech industries boomed. Sales of pollution control equipment surged 30.3 percent year on year in 2016, while that of new-energy vehicles grew 53 percent from a year earlier, the federation data showed.
China’s economy grew 6.7 percent in 2016, slower than the 6.9 percent growth in 2015 but within the target range.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
