From January to March this year, the production and sales in China's machinery industry has maintained a steady growth trend. Both production and sales have maintained a growth rate of more than 29%. The growth rate of export delivery value has increased significantly. Among them, the growth rates of private and three-capital enterprises have accelerated significantly. A total of 106 products have achieved cumulative year-on-year growth, accounting for 88.33% of all reported product types. The specific situation is as follows:
Steady Growth in Production and Sales across the Industry
In the first three months of this year, the entire machinery industry completed an industrial output value of 3,538.758 billion yuan, an increase of 29.11% year-on-year. The growth rate was 13.24 percentage points lower than the same period last year and 0.04 percentage points higher than last month. The entire industry completed a sales output value of 3,450.317 billion yuan, an increase of 29.12% year-on-year. The growth rate was 14.36 percentage points lower than the same period last year and slowed by 0.06 percentage points compared to last month. Although the growth rate of sales output value from January to March slightly slowed down compared to last month, it still maintained a growth rate of more than 29%. Overall, the production and sales across the entire industry showed a steady growth trend.
At the same time, the sales ratio of mechanical products across the entire industry was basically the same as last year at 97.50%, only increasing by 0.01 percentage points compared to the previous year (97.49%), and was 0.22 percentage points lower than the national industrial product sales rate (97.71%).
Decline in Industrial Added Value Growth Rate and Proportion of National Industry
In March, the added value growth rate of the machinery industry for the current month and cumulatively was 17.4% and 17.8%, respectively, exceeding the national industrial level by 2.6 and 3.4 percentage points. From the added value growth rate from January to March, the current month's growth rate of the machinery industry's added value ranked third among the twelve departments of the national industry, with the cumulative growth rate decreasing by 7.9 percentage points compared to the same period last year. From January to March, the proportion of the machinery industry's added value to the national industrial added value was 18.65%, a decrease of 0.7 percentage points compared to the same period last year.
Outstanding Growth in Engineering Machinery and Slower Growth in Automobile Production
In the first three months of this year, production in all twelve industries of the machinery industry showed growth. Compared to the same period last year, five industries had a growth rate of more than 30%, namely the engineering machinery industry, machine tool industry, mechanical basic parts industry, electrical machinery industry, and petrochemical general-purpose industry. Among these, the engineering machinery industry grew the fastest, with production growing by 58.64% year-on-year, an increase of 0.16 percentage points compared to last month. The automobile industry had a relatively low year-on-year growth rate, growing by 18.50%, which not only dropped significantly compared to the same period last year but also decreased by 0.32 percentage points compared to last month.
Acceleration in Export Delivery Value Growth Rate of Private and Three-Capital Enterprises
From January to March, the entire machinery industry completed an export delivery value of 354.999 billion yuan, growing by 32.46% year-on-year. The growth rate increased by 0.46 percentage points compared to last month and by 6.9 percentage points compared to the same period last year, showing a steady growth trend in the export delivery value growth rate. Among different types of holding enterprises, the growth rate of export delivery value for private and three-capital enterprises accelerated, growing by 34.65% and 30.99% year-on-year respectively, accelerating by 2.35 and 1.2 percentage points compared to last month.
Good Completion Status of Major Product Output
Among the 120 major products statistically analyzed this month by the Information Center of the China Machinery Industry Federation, 106 products have shown cumulative year-on-year growth, accounting for 88.33% of all reported product types; among these, 86 products grew by double digits, accounting for 71.67% of all reported products; 13 products had reduced output compared to last year, accounting for 10.83% of reported products, including the series of disc knives. Specific product completion status is as follows:
Firstly, most agricultural machinery products listed in the monthly report are selling well. Among them, grain harvesting machinery, corn harvesting machinery, post-harvest processing machinery, primary processing machinery for agricultural products, feed production dedicated machinery, and cotton processing machinery maintained rapid growth, with growth rates all above 44%. Large, medium, and small tractors maintained stable growth, with growth rates remaining above 10%. Large tractors saw strong growth this month, growing by 37.75% year-on-year, faster than medium and small tractors.
Secondly, since the beginning of the year, the production and sales of engineering machinery have shown explosive growth. Among the five products listed in the monthly report statistics, four products had year-on-year growth above 40%. Among them, excavators, earthmoving and transportation machinery, and compaction machinery grew rapidly, with growth rates all above 50%. Concrete machinery had a relatively lower growth rate but still grew by more than 30%.
Thirdly, from January to March, the output growth gap between metal cutting machines and metal forming machines widened. Metal cutting machines grew by 22.9% year-on-year, while metal forming machines grew by 0.32% year-on-year. CNC metal cutting machines and CNC metal forming machines maintained synchronized growth, growing by 39.04% and 33.86% year-on-year, respectively.
Fourthly, from January to March, 5,071,300 vehicles were produced, growing by 10.24% year-on-year, slightly lower than last month. Compared to last month, models with larger declines in growth rate were sedans with engine displacements between 2.0~2.5 liters and large buses, with their growth rates declining by 19.57 and 13.4 percentage points, respectively. Medium buses and 1.0-liter sedans saw significant increases in production, with their growth rates increasing by 16.21 and 5.81 percentage points, respectively.
Fifthly, in the instrument and meter industry, electric meters and testing machines grew rapidly, growing by 32.24% and 38.80% year-on-year, respectively. The production of automotive instruments and meters slowed significantly, with the growth rate dropping by over 95 percentage points compared to the same period last year.
Sixthly, in power generation equipment, hydraulic generators showed slow growth, growing by 7.31% year-on-year. Wind turbines and steam turbines showed rapid growth, growing by 74.89% and 53.03% year-on-year, respectively.