Cai Weici, executive vice president of the China Federation of Machinery Industry, said that compared to the previous ten years of rapid growth, China's machinery industry has entered a period of moderate growth. He predicted that the main indicators of the first quarter of this year may not be optimistic, but then the trend will be more stable, the annual growth rate of production and sales is expected to be about 12%, profit growth and export growth are around 8%.

Last year, there were some new changes in the Chinese machinery industry. First, profit growth has been below the growth rate of output value for the first time in many years. According to the statistics of the National Bureau of Statistics, the total industrial output value of the machinery industry last year was 18.41 trillion yuan, an increase of 12.64% year-on-year; the total realized total profit was 1.23 trillion yuan, an increase of only 5.18% year-on-year, and 7.46 percentage points lower than the growth rate of the output value over the same period. Second, the growth rate of added value was below the industrial average for the first time in recent years. Last year, the value added of machinery industry increased by 8.4% year-on-year, which was lower than the average national industrial growth rate by 1.6 percentage points over the same period.

In addition, the production of mechanical products decreased by 1/3 last year, which is also rare in recent years. Cai Weici analyzes that the decline in the efficiency of the machinery industry has led to the lack of orders due to weak market demand and the decline in the prices of products. There are also reasons for the tight economic operation situation of users, which has led to a significant increase in the phenomenon of default payments. The most serious heavy mining machinery industry accounts receivable The proportion of main business income is almost 100%. It is difficult for the recovery of payment for goods to increase the liquidity pressure and increase the financial cost. From January to December last year, the cumulative increase in the financial expenses of the machinery industry was as high as 27.96%, of which the increase in interest expenses was 30.59%.