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In the National Machinery Industry Economic Development Report Conference held recently, Cai Weici, executive vice chairman of China Machinery Industry Federation, said that currently development of the machinery industry remained grim; we should be prepared for a tough time, but the development prospects were favorable in the long term.
Positive signal amidst slowdown
The current slowdown is an adjustment against the background of the change of economy development goal from quantity to quality, and the market "reversed pressure" mechanism is yielding expected results.
Due to such factors as slipping export and weak investment in infrastructure construction and real estate, China's industrial production growth in the first three quarters of this year has continued to slow down, the operation difficulty of the machinery industry has increased, and the slowdown of main economic indicators has continued since 2011. The 6 major economic indicators, namely industrial added value, total output, profit, foreign exchange created, products production volume, and fixed assets investment, are all on a downward trend. Meanwhile, the industry is becoming increasingly differentiated, and economic operation become more difficult.
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