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Chinese Machinery Industry Reports Stronger Growth
China's machinery industry reported better growth in the first half of this year.
The total added value of the machinery industry surged 14.3 percent over the corresponding period of last year, according to the latest statistics from the China Machinery Industry Federation (CMIF).
The sales income reached nearly 700 billion yuan, up 17 percent on a half-yearly basis.
"The total volume of imports and exports continued to climb, with machinery and electrical products exceeding 90 billion US dollars in the first five months of this year," said Yang Xuetong, deputy secretary-general of the CMIF.
The industry is expected to score a 15 percent growth in output value to reach 60 billion yuan in profit by the end of this year, Yang said.
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