In the first half of the current year, China’s machinery industry registered an operating revenue of RMB 10.53 trillion ($1.5 trillion), up 1.29 percent year on year, as announced by China Machinery Industry Federation (CMIF).
CMIF forecasts that the economic operating environment will improve for machinery industry in the second half of this year, with enterprises’ development vitality being further released.
Moreover, CMIF anticipates the economic operation of machinery industry will run smoothly in the whole year of 2019, with operating revenue, gross profit and import and export trade seeing moderate growth. Thereby, the smooth running of machinery industry will provide support to the steel market.