USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Industries

China's mechanical industry posts fast growth

Xinhua | Updated: 2017-02-17 13:27

BEIJING - China's mechanical industry developed rapidly last year, buoyed by the fast-growing auto and electrical appliance segments, China Machinery Industry Federation said Thursday.

The auto sub-sector contributed nearly 60 percent of the industry's new revenues, while the electrical appliance sub-sector contributed around 20 percent, Wang Ruixiang, head of the federation, said at a conference.

Profits of automakers rose to 688.6 billion yuan ($100 billion) last year, up 66.27 billion yuan from 2015.

Auto sales continued rapid growth in 2016 partly due to the government's tax cut incentives.

Sales of domestic brand passenger cars jumped over 20 percent year on year, accounting for more than 40 percent of the country's passenger-car sales.

Wang said priority will be given to sectors including high-end numerical control machine tools, basic equipment manufacturing and intelligent equipment this year.

He also called for innovation in the mechanical industry.

Most Viewed in 24 Hours
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US