Machinery makers riding B&R to big growth

Chinese machinery manufacturers' revenue is expected to grow 8 percent to 26.51 trillion yuan ($3.94 trillion) this year on the back of the Belt and Road, or B&R, Initiative, potentially reversing two years of export slowdown, industry officials said on Tuesday.

In the first half of this year, exports of Chinese products such as automobiles, construction machinery and equipment for mining, oil drilling and power industry grew nearly 7 percent year-on-year to $193.5 billion, according to the China Machinery Industry Federation.

Their imports increased almost 12 percent to $142.7 billion.