Despite effect of various factors such as rising raw material prices, the economic operation of the entire industry and production are generally stable. And the annual increase in major economic indicators exceeds expectations.

Foreign trade has hit a high record due to the effective prevention and control of the domestic epidemic and the rapid restoration of production order and machinery companies’ initiative to seize opportunities in the international market. In 2021, the foreign trade of the machinery industry continued to grow rapidly, and the total import and export volume for the whole year was up to US$1.04 trillion, surpassing the US$1 trillion threshold for the first time.

Strategic emerging industries are developing well. In 2021, the related industries of strategic emerging industries in the machinery industry have achieved a total operating income of 20 trillion yuan, a year-on-year increase of 18.58%. The total profit was 1.21 trillion yuan, a year-on-year increase of 11.57%. The growth rate of operating income of strategic emerging industries was higher than the average growth rate of the machinery industry in the same period, driving up the industry revenue growth by 13.95%, and playing a positive role in the rapid growth of the entire industry.

“It is expected that the added value and operating income of the machinery industry will increase by about 5.5% in 2022, the total profit level will be the same as that in 2021, and the overall import and export trade will remain stable.” Said Chen Bin, the executive vice president of China Machinery Industry Federation.