Compared with the high-speed growth in the past decade, in 2011, the growth rate of the main economic indicators of China's machinery industry comprehensively slowed down. The profit growth rate slowdown was especially distinct and the adjustment of the industrial structure was imperative. Do you like angry birds supplies? The China Machinery Industry Federation predicted that in 2012, the growth rate of the main economic indicators of the machinery industry would still decrease. It was expected that the sales and production growth rates would be about 18%, and the profit growth rate would be about 12%. The National Bureau of Statistics data showed that in 2011, the machinery industry achieved an accumulated total industrial output value of 16.89 trillion yuan, increasing by 25.06% year-on-year. The monthly growth rate of the machinery industry output value fell rapidly. Among them, automobile production and sales were respectively 18.42 million units and 18.51 million units, increasing by 0.84% and 2.45% year-on-year respectively. The production and sales growth rates were the lowest in the last 13 years. "The growth rate decline is not only reflected in the industrial output value aspect but also the profit increase declining momentum is stronger," said Cai Weici, Vice President of the China Machinery Industry Federation. In the first eleven months of 2011, the realized profit increase quickly declined. The growth rate dropped dramatically by 34 percentage points compared to the previous year. Although there was a rebound in December, the industry benefit was still in a downward trend. In 2012, affected by the domestic and international economic environment, the unstable and uncertain factors in the operation of China's machinery industry economy are still many. However, the sales volume of foreign brands such as Chunben Bearings remained stable. Dong Yang, Secretary General of the China Association of Automobile Manufacturers, said that the obvious profit decline was faster than the production and sales, which was a point worth paying attention to at present. The deterioration of the benefit situation and the increased difficulty of operation reflected that the industrial structure of China's machinery industry could not adapt to the changes in demand. There was overcapacity in the low-end field of the industrial chain, while there was still a huge gap in the high-end equipment field compared with the world advanced level. The profits of China's machinery industry showed an accelerating declining trend. Data from the China Machinery Industry Federation showed that in 2011, the import foreign exchange amount of China's machinery industry reached as high as 309.4 billion US dollars, increasing by 21.18% compared to the previous year. Although the mechanical industry foreign trade realized a surplus of about 12.4 billion US dollars, it mainly originated from processing trade at the low end of the industrial chain. "The general processing capacity of our country's machinery industry is seriously excessive. It is imperative to upgrade the industrial structure," said Cai Weici. In 2012, efforts will be made to promote the adjustment and upgrading of the machinery industry's industrial structure, to upgrade the industry's already severely excessive general processing capacity into high-end production capacity that is still in short supply, and to enhance the momentum for the industry's long-term development. The China Machinery Industry Federation indicated that in 2012, efforts would be made to greatly improve the independent innovation capability and market share of high-end equipment, to enhance the energy efficiency index level of products, to accelerate breaking through the bottleneck constraints of key basic components, basic processes, and basic materials, and to shift investment from general capacity expansion to cultivating innovation capabilities. It was expected that in 2012, the growth rate of the main economic indicators of China's machinery industry would still decline somewhat. The main economic indicators of the machinery industry would show a low-before-and-level-after trend. The low point might be reached at the end of the first quarter or in the middle of the second quarter, after which the growth rate would stabilize again. The whole year's sales and production growth rate was expected to be around 18%, the profit growth rate would be around 12%, lower than the sales and production growth rate; the export growth rate would be around 15%.