The value-added industrial output of China’s machinery industry rose by 8.7 percent in 2023, while the industry registered an operating revenue of RMB 29.8 trillion ($4.2 trillion) in the given year, up 6.8 percent year on year, and realized a gross profit of RMB 1.8 trillion ($0.25 trillion), rising by 4.1 percent year on year, according to China Machinery Industry Federation (CMIF).
The total value of imports and exports of the machinery industry in 2023 reached $1.09 trillion, up 1.7 percent, exceeding $1.0 trillion for the third consecutive year, accounting for 18.3 percent of the country’s total foreign trade value, according to China’s Customs. In particular, the value of the exports of the machinery industry totaled $783.02 billion in 2023, up 5.8 percent year on year, accounting for 23.2 percent of the country's total foreign export value.