In 2006 China's machinery industry will maintain its momentum of rapid development
In 2006, the Chinese machinery industry continued to experience robust growth, with the total output value expected to rise by between 15% and 18%. Major manufacturers in sectors like power transmission and transformation, as well as petrochemical equipment, reported strong contract orders. Meanwhile, exports of large-scale machinery—such as automobiles, agricultural equipment, and construction machinery—saw steady increases, reflecting growing international demand.
On the 17th of the year, the National Development and Reform Commission released its outlook for the machinery sector. Industry experts highlighted that government policies supporting agriculture had boosted farmers' interest in purchasing machinery, leading to new market demands. Additionally, the easing of coal and electricity supply provided favorable conditions for production activities across the sector.
The commission also emphasized the need to better balance production schedules to ensure sustained growth in the machinery industry. They called for improved economic management to support key electromechanical projects. Furthermore, trade associations were encouraged to play a more active role in foreign trade, ensuring smooth export operations and maintaining order in international markets.
Meanwhile, the electronics industry, which had seen rapid growth in the previous two years, entered a phase of adjustment in 2006. Experts predicted that while production and sales revenue would continue to rise rapidly, profit and tax growth would slow significantly. The industry's reliance on foreign exports was expected to increase further.
From an economic performance standpoint, the expansion of the 3G communications market, along with increased investment and the mass listing of flat-panel display devices, contributed to a projected 20% growth in the production and sales of electronic products. However, the overall profit margin for the industry was expected to remain modest, indicating a period of cautious optimism for the sector.
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