Others News
- Foreign trade in mechanical products goes from deficit to surplus
Date: 14-Feb-2007 Sources: (People's Daily)
China's machine building industry developed at a speed over 30 percent last year and witnessed a historical turn in foreign trade, striking a general balance between the import and export of mechanical products and realizing for the first time a surplus of US$747 million, according to the China Machinery Federation.
In 2006, the total import and export trade in Chinese machines was valued at US$283.971 billion, up 27.42 percent from 2005, of which export made up US$142.359 billion, an increase of 36.28 percent, and import US$141.612 billion, up 19.6 percent. Foreign trade in Chinese machinery products has always resulted in a trade deficit for China, and in fact the industry has one of the greatest deficits of all industries. Over the last four years, however, China's machinery industry has expanded rapidly and stably with a growth rate above 20 percent. The capacity for innovation within the industry has improved continuously. Chinese automobile enterprises launched 36 independently developed car models 2006.
Innovation in electrical generators has also led to some great results: a million-kilowatt firepower generating unit, a 700,000-kilowatt waterpower generating unit and a megawatt wind-power generating unit have been developed and put into operation. The industry also began to export 600,000-kilowatt firepower generating units. Over the year, China produced electrical generators capable of generating a combined total of 110 million kilowatts. Other important equipment was also developed. Both 7000-meter and 9000-meter oil rig drills have been successfully developed and exported.
Some representatives of the China Machinery Industry Federation believe that as economic indexes for the Chinese machine building industry -such as added value, total profit and export trade - are looking up, the industry will maintain the growth rate of 20 percent this year.
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