China’s machinery industry up 5.44% YoY in H1 ’24

China’s machinery industry saw growth in the first half of the year, with operating revenue reaching 12.95 trillion yuan ($1.9 trillion), up 5.44 per cent from the previous year, as reported by the China Machinery Industry Federation (CMIF).

While the sector’s added value grew at a more modest pace of 0.7 per cent year-on-year, the federation attributed the overall expansion to a series of government stimulus measures implemented earlier this year.

Exports from the machinery industry also demonstrated resilience, increasing by 10.41 per cent year-on-year. However, Chen Bin, executive vice-president of the CMIF, emphasised the need for continued policy support to address challenges facing enterprises and maintain the sector’s momentum.

Attribution: State Council of the People’s Republic of China