Focus: Steady growth in the operation of the machinery industry in the first 7 months

Since the beginning of this year, there have been profound changes in the internal and external environment of industry development, with significant downward pressure on China's economy and weak market demand growth. In the first seven months, the overall production and operation situation of China's machinery industry has been good. While the growth rate of industrial added value above a certain scale in the machinery industry is higher than the same period last year, and the total profit of the industry has increased, the import and export growth rate of the machinery industry has shown a trend of falling and rising. 

The growth rate of added value has slightly rebounded compared to last month

Statistics show that from January to July this year, the added value of machinery industry above designated size increased by 11.3% year-on-year, up 0.1 percentage points from January to June, 2 percentage points higher than the same period last year, and 2.5 percentage points higher than the national industrial sector (8.8%). From the perspective of the growth rate of added value in each month, there was a slight downward trend in the first six months, and a slight rebound in July. 

By industry, among the 49 classified industries in the statistics, 25 of them showed an increase in value-added growth compared to the same period last year, with 6 industries showing an increase of more than 4 percentage points. The growth rate of added value in 23 medium-sized industries decreased year-on-year, with other instrument and meter manufacturing, modified automobile manufacturing, other general equipment manufacturing, and low-speed cargo vehicle manufacturing experiencing a decline of more than 8 percentage points. 

The year-on-year growth rate of total profit has declined

From January to July, the total profit of the national machinery industry reached 827.586 billion yuan, a year-on-year increase of 18.9%, a decrease of 0.68 percentage points from January to June (19.58%). The total profit achieved in July was 112.249 billion yuan, a year-on-year increase of 14.71%, which was 5.79 percentage points lower than the growth rate in June (20.5%). 

From January to July, the main operating profit of the national machinery industry reached 757.314 billion yuan, a year-on-year increase of 10.58%, with a growth rate 0.79 percentage points higher than that of January to June (9.79%). In July, the main operating profit was 99.97 billion yuan, a year-on-year increase of 16.11%, a decrease of 5.16 percentage points compared to June (21.27%). 

From January to July, among the 13 major industries in the machinery industry, except for the engineering machinery and agricultural machinery industries where the total profit decreased year-on-year, the other 11 industries all showed varying degrees of growth year-on-year. However, in terms of year-on-year profit growth rate, compared with January to June, seven industries have experienced a decline in growth rate, including four industries: cultural office equipment industry (19.67%), agricultural machinery industry (-1.12%), automotive industry (26.37%), and instrumentation industry (12.58%), which have experienced a rapid decline in growth rate, with declines of 3.93, 3.01, 2.35, and 1.14 percentage points respectively; The internal combustion engine industry (38.67%), machine tool industry (12.42%), and mechanical basic parts industry (16.17%) saw a relatively fast year-on-year growth rate, increasing by 14.08, 1.78, and 1.71 percentage points respectively. The construction machinery industry (-16.65%) narrowed its decline by 0.85 percentage points compared to January to June. 

The year-on-year growth rate of main business revenue and costs has increased

In the first seven months, the main business revenue of machinery industry enterprises was 1223.0446 billion yuan, a year-on-year increase of 11.7%, an increase of 0.18 percentage points compared to January to June (11.52%), and 2.94 percentage points higher than the national industrial growth rate (8.76%); The main business cost was 1.0384543 trillion yuan, a year-on-year increase of 11.78%, with a growth rate 0.19 percentage points higher than that of January to June (11.59%); The cost per 100 yuan of income reached 84.91 yuan, an increase of 0.11 yuan from January to June (84.8 yuan). The main business income realized per 100 yuan of assets is 129.43 yuan, which is 0.32 yuan higher than that from January to June (129.11 yuan). By industry, among the 13 major industries, 11 saw an increase in their main business revenue year-on-year, while 2 saw a decrease. Among the industries with year-on-year growth, there are 9 industries with growth rates exceeding 10%, among which the automotive industry, food packaging machinery industry, and mechanical basic parts industry have year-on-year growth rates exceeding 14%. The two industries that experienced a year-on-year decline were the cultural office equipment industry (-3.52%) and the construction machinery industry (-0.49%). 

The growth rate of import and export in the machinery industry has been fluctuating

From January to July, the cumulative import and export volume of the machinery industry was 414.137 billion US dollars, a year-on-year increase of 9.34%. Among them, imports amounted to 185.621 billion US dollars, a year-on-year increase of 10.79%, a decrease of 0.17 percentage points from January to June (10.96%); Exports amounted to 228.516 billion US dollars, a year-on-year increase of 8.18%, with a growth rate 0.96 percentage points higher than that of January to June (7.22%); The cumulative import and export trade surplus reached 42.895 billion US dollars. 

In July, the total import and export volume of the machinery industry was 66.539 billion US dollars, a year-on-year increase of 11.84%. Among them, imports amounted to 29.734 billion US dollars, a year-on-year increase of 9.94%, with a growth rate 4.32 percentage points lower than the previous month; Exports amounted to 36.805 billion US dollars, a year-on-year increase of 13.42%, with a growth rate 6.43 percentage points higher than the previous month; The trade surplus for the month was 7.071 billion US dollars. 

From January to July, 10 out of the 13 major industries in the machinery industry saw a rebound in export growth compared to January to June, with the machine tool industry showing the fastest recovery, increasing by 2.65 percentage points from January to June; Next is the petrochemical general industry, which increased by 1.58 percentage points; The third is the cultural office equipment industry, with a growth rate that has turned from negative to positive, increasing by 1.23 percentage points. The three major industries that saw a faster rebound in export growth in July compared to June were the machine tool and tool industry, petrochemical general industry, and automotive industry, all of which increased by more than 10 percentage points, reaching 12.13, 12.02, and 11.82 percentage points respectively. 

Statistics show that in the first seven months, among the 92 types of imported and exported products in the machinery industry, the top three in terms of cumulative import value year-on-year growth rate were passenger cars with more than 30 seats (including complete sets of parts) (417.99%), motorcycles (205.88%), and gas separation equipment (96.46%); The top three in terms of cumulative export value year-on-year growth rate are four-wheel drive light off-road vehicles (including complete sets of parts) (160.07%), grass machinery (83.26%), and environmental protection equipment (50.47%). 

Over 70% of the main product output has achieved growth

  There are 19 products with reduced production compared to last year, accounting for 29.7% of the reported products. 

Firstly, from the key statistics of agricultural machinery product data, tractor products showed a downward trend from January to July, with large and small tractors decreasing by 7.46% and 11.64% year-on-year, respectively, and the decline expanding by 0.12 and 0.43 percentage points compared to the previous month; Medium sized tractors decreased by 6.86% year-on-year, narrowing the decline by 3.2 percentage points compared to the previous month. Harvesting machinery showed a recovery growth, with a year-on-year increase of 7.27%, an increase of 5.79 percentage points from the previous month. The specialized equipment for feed production continues to maintain low-speed growth, with a year-on-year increase of only 0.4%. 

Secondly, in the first seven months, excavators and loaders in construction machinery products decreased by 7.34% and 6.52% year-on-year, respectively, with the decline rate expanding by 0.77 and 1.94 percentage points compared to the previous month. From the growth rate of excavator and loader production in the first half of the year, it shows a monthly decline trend, but the decline rate slightly narrowed in July. Only compaction machinery showed a growth trend in engineering machinery products, with a year-on-year increase of 18.36%. 

Thirdly, from January to July, metal cutting machine tools and metal forming machine tools increased by 4.6% and 13.65% respectively year-on-year. Among them, the growth rate of metal forming machine tools increased by 9.76 percentage points compared to the previous month, while the growth rate of metal cutting machine tools slightly decreased compared to the previous month. The CNC metal cutting machine tools in the metal cutting industry maintained a rapid year-on-year growth of 16.72%. 

Fourthly, 14.5058 million cars were produced in the first seven months, a year-on-year increase of 10.85%. Among them, multifunctional passenger vehicles and sport multi-purpose passenger vehicles continue to maintain a strong growth momentum, with year-on-year increases of 53.58% and 44.58% respectively; Basic passenger cars increased by 8.31% year-on-year; Cargo trucks and buses decreased by 1.6% and 14.29% respectively year-on-year, with the decline in cargo trucks expanding by 1.3 percentage points compared to the previous month. 

The mining specialized equipment, cranes, and conveying machinery in heavy mining products have shown a year-on-year growth trend, with an increase of 1%, 9.95%, and 14.41% respectively in the first seven months. Metal smelting equipment and metal rolling equipment decreased by 7.32% and 10.96% respectively year-on-year, with the decline in metal smelting equipment expanding by 1.08 percentage points compared to the previous month. 

From January to July, the production of power generation equipment reached 83.3819 million kilowatts, a year-on-year increase of 8.57% and a 5.7 percentage point increase from the previous month. Among them, the year-on-year decrease of hydro generator units was 5.44%; Steam turbine generators increased by 10.06% year-on-year; Wind turbines increased by 27.01% year-on-year. Electrical and electrical products are also growing rapidly, including power station steam turbines, power station water turbines, and AC motors, with year-on-year growth rates of over 8%.