Expanding domestic demand policy brings new opportunities for China's machinery industry

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In January-February, the added value of the machinery industry increased by 5.4% year-on-year, including a 4.6% decline in January and a 16.5% increase in February. In terms of comparable days, the added value of the machinery industry in the first two months increased by 7.2% year-on-year, with a growth of 20.7% in February.

The production growth of the agricultural machinery industry is strong. The policy of “agricultural machinery going to the countryside” has stimulated the enthusiasm of farmers to purchase agricultural machinery. Enterprises have accelerated the pace of production to meet market demand. In January-February, the total output value of the special equipment manufacturing industry for agriculture, forestry, animal husbandry and fishery increased by 21.6% year-on-year, with an increase of 43.1% in February. In the first two months, the output of large tractors and medium-sized tractors increased by 13.5% and 28.4% respectively, including 51.4% and 60.1% in February; crop harvesting machinery and on-the-spot machinery increased by 39.3% and 47.2% respectively, of which 40.2 in February. % and 43.1%.

The situation of heavy machinery and equipment is optimistic. In January-February, the total output value of mining, metallurgy and construction equipment manufacturing industry increased by 24.1% year-on-year, of which 35% in February. In the first two months, the production of mining equipment, cement special equipment, metal smelting and rolling equipment increased by 4%-16%, of which the increase in February was 29.2%-43.9%.

Construction machinery showed signs of recovery. In January-February, the total output value of the lifting transportation equipment manufacturing industry increased by 5% year-on-year, of which 22% in February. The output of lifting equipment and excavating machinery in the month decreased from 15.6% in January and 40.8% in January to 7.6%. And 9.1%.

The production situation of the machine tool industry has improved. Affected by the international financial crisis, the machine tool industry's orders have decreased and the product backlog has been severe since the fourth quarter of last year. The output of metal cutting machine tools and forging equipment decreased by about 30% in December. Implementing policies and measures such as equipment manufacturing adjustment and revitalization planning to help the machine tool industry gradually get out of the predicament. In January-February, the total output value of the metal processing machinery manufacturing industry increased by 10.8% year-on-year, with a growth of 20.8% in February. In the same month, the output of metal cutting machine tools decreased by 6.6% year-on-year, which was 27.4 percentage points lower than that in January. The metal forging equipment changed from 49.7% in January to 28.6%.

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