China's machinery industry sees robust growth during 14th Five-Year Plan period

BEIJING - China's machinery industry has achieved substantial progress in industrial scale, foreign trade and innovation during the 14th Five-Year Plan period (2021-2025), according to data released by the China Machinery Industry Federation on Monday.

The number of machinery enterprises above the designated size rose from 92,000 at the end of 2020 to 137,000 by the end of October 2025.

In terms of industrial scale, the sector's added value has grown at an average annual rate of 7.1 percent since 2021. From January to October this year, total foreign trade in machinery goods reached $1.03 trillion, up 7.6 percent year-on-year, with annual import and export value expected to reach a record high.

Building on its growing industrial clusters, the sector now has 13 enterprises ranked among the world's top 50 construction machinery manufacturers.

Looking ahead to the next five-year plan, Xu Niansha, president of the federation, said the industry will focus on strengthening the resilience and security of industrial and supply chains, accelerating the development of new quality productive forces, and promoting intelligent, green and integrated transformation.