China's machinery industry posts stable growth in H1

China's machinery industry maintained steady and positive performance in the first half of the year, reporting stable growth in production and sales, the China Machinery Industry Federation (CMIF) said on Monday.

Data from the CMIF showed that the machinery industry's added value increased by 9 percent year on year in the first six months. This growth rate was 2 percentage points higher than that of the manufacturing sector.

Meanwhile, 84 out of the 122 categories of mechanical products monitored by the federation posted an increase in production.

The production and sales of automobiles in H1 grew by 12.5 percent and 11.4 percent year on year, respectively, reaching 15.6 million and 15.7 million units.

During the same period, the production of power-generating units surged by 60.5 percent year on year. Output of industrial robots grew 35.6 percent year on year, and cumulative sales of excavators reached 121,000 units, marking a 16.8 percent year-on-year increase.

According to Xu Niansha, president of the CMIF, strategic opportunities and risks coexist for the sector's development during the second half of the year, with favorable conditions generally outweighing unfavorable factors.

Xu projected that the machinery industry's economic performance will continue to enjoy steady growth in the latter half of the year.