Machinery sector shows stable H1 performance

China's machinery sector performed well in the first half, while its intelligent and green initiatives gained traction, said the China Machinery Industry Federation on Wednesday in Beijing.

In the first six months, essential products such as automobiles and electrical equipment grew at a rapid pace, said the CMIF.

During the period, the automotive sector's added value increased 9.8 percent year-on-year. Meanwhile, the CMIF reported an increase in production of around 61.5 percent of the 122 types of mechanical products monitored by the federation.

The country's machinery sector saw new momentum in the first half, including new energy vehicles and industrial robots.

During the period, production and sales of NEVs grew 30.1 percent and 32 percent from a year earlier, respectively, while industrial robot output was up 9.6 percent.

In addition, the CMIF said that the installed capacity of green energy power generation accounted for about 85 percent of the country's total of newly added installed capacity in the first six months.

Focusing on key links and weak points in the industry and supply chains, the machinery industry has accelerated the research and development of core technologies and equipment in recent years, said Luo Junjie, executive vice-president of the federation.

A number of independent R&D achievements emerged in the first half, further enhancing the resilience and security level of industry and supply chains, Luo said.

Xinhua