March 6, China General Machinery Industry Association, vice president and secretary-general, spokesman Sun Fang released 2024 general machinery industry economic operation and 2025 industry development expectations.
Sun put said, 2024 general machinery industry adhere to innovation to lead, promote industrial transformation and upgrading, seize the opportunity to actively act, effectively deal with the impact of insufficient market demand, etc., the industry's development has shown strong resilience, the whole year's economic operation is steady progress, high-quality development to achieve new results.
2024 general machinery industry economic operation in the first quarter of a good start, after the second quarter of operating income growth slowed down, but the overall stable; total profit was a continuous decline.
According to the National Bureau of Statistics data, in 2024 the general machinery industry above-scale enterprises 8524, total assets of 13178.62 billion yuan, an increase of 6.46%; annual operating income of 1073.939 billion yuan, an increase of 3.49%, higher than the national industry 1.39 percentage points, higher than the machinery industry 1.79 percentage points; to achieve a total profit of 84.379 billion yuan, a year-on-year decline of 0.36 per cent, the rate of decline is smaller than the national industry and the machinery industry; completed the export delivery value of 172.27 billion yuan, an increase of 14.34 per cent year-on-year.
According to China General Machinery Industry Association of 200 key contact enterprise statistics, to achieve operating income of 160.805 billion yuan, an increase of 0.51%; to achieve a total profit of 13.185 billion yuan, a decline of 0.46%; cumulative order amount of 213.405 billion yuan, a decline of 1.8%; accounts receivable of 57.645 billion yuan, an increase of 7.61%.
2024 general machinery industry foreign trade total import and export volume to maintain rapid growth, customs data show that the general machinery industry, 47 key products in the annual cumulative import and export volume of 49.925 billion U.S. dollars, an increase of 6.59% year-on-year. Among them: imports of 14.402 billion U.S. dollars, a year-on-year decline of 2.09%; exports of 35.524 billion U.S. dollars, an increase of 10.57%. Import and export surplus of 21.122 billion U.S. dollars, an increase of 21.26 per cent.
From the annual import and export growth rate, due to the United States tariff increase is expected to heat up, enterprises to deal with the uncertainty of the international market, there is a 'rush to export' phenomenon, the fourth quarter of the export growth rate accelerated significantly.
General machinery industry economic operation in 2024 features: First, the effectiveness of scientific and technological innovation; Second, the industry transformation and upgrading in-depth; Third, the international market to accelerate the pace of development.
In 2024, the total foreign trade import and export of the general machinery industry to maintain rapid growth, customs data show that the general machinery industry, 47 key products of the annual total import and export volume of 49.925 billion U.S. dollars, an increase of 6.59 per cent year-on-year. Among them: imports of 14.402 billion U.S. dollars, a year-on-year decline of 2.09%; exports of 35.524 billion U.S. dollars, an increase of 10.57%. Import and export surplus of 21.122 billion U.S. dollars, an increase of 21.26 per cent.
From the annual import and export growth rate, due to the United States tariff increase is expected to heat up, enterprises to cope with the uncertainty of the international market, the phenomenon of 'rush exports', the fourth quarter of the export growth rate accelerated significantly.
The higher export value of the region for: exports to ASEAN 10 countries 5.242 billion U.S. dollars, up 19.19%; exports to the U.S. 5.239 billion U.S. dollars, an increase of 3.92%; exports to the EU-27 5.165 billion U.S. dollars, an increase of 11.12%; exports to Russia 2.225 billion U.S. dollars, an increase of 6.39%; exports to Central Asia, five countries 892 million U.S. dollars, an increase of 28.7%. an increase of 28.7%. These countries or regions accounted for 52.82 per cent of the industry's total exports.
The Central Economic Work Conference pointed out that China's economy has a stable foundation, many advantages, strong resilience, and great potential, and the supporting conditions and basic trend of long-term improvement have not changed.2025, the country will implement a more proactive fiscal policy and moderately loose monetary policy, increase the expansion of the implementation of the 'two new' policy, and support the 'two heavy' projects with greater strength. 'The macroeconomic environment is expected to continue to be favourable as the central government convenes a forum on the private economy. The central government held a forum on private economy, support the development of private economic policy will continue to implement, private enterprises will continue to improve the business environment.
Market demand, refining and chemical integration, coal deep processing and power generation equipment and other traditional industries will still have some room for growth, new energy, energy storage and energy-saving transformation and other emerging industries on the demand for new products will be further developed and industrialised.
It is expected that the general machinery industry in 2025 will continue to maintain a steady and progressive development trend, the growth rate of the main economic indicators at about 5%, exports will remain stable growth, science and technology innovation to lead the development of industrial high-end, intelligent, green development will further accelerate the pace.
