Manufacturing industry output soars 31.71% in 1H

China machinery industry keeps monthly increase of 18% for 53 months, according to the China Machinery Association. The value-added industrial output for the first six months is RMB 731.4 billion, up 33.82% compared with the same period last year. The total industrial output created rose by 31.71%.

China's machinery industry has been converting from the old OEM model to its own brands by importing foreign new technologies. Some equipments are even more advanced than imported. They have made great achievement in researching, developing and localizing advanced technologies.

Meanwhile, the country is also paying growing attention to the development and manufacture of high-end low-energy-consuming equipments in order to save energy and reduce emission.

Since 2003, China machinery products enlarged its proportion in export. Wang Hong, section chief of China Machinery association, said that china's machinery market and competitiveness are enhanced as its machinery trade changed from US$39 billion of trade deficit in 2003 to a surplus of US$9.7 billion in the first half 2007.