Fastener Shanghai
fastener
Official WeChat
fastener
fastenerHomefastener
fastener
fastenerNewsfastener
fastener
fastenerfastenerBuyers' Guidefastener
fastener
fastenerStandard Searchfastener
fastener
fastenerFor Buyersfastener
fastener
fastenerFor Suppliersfastener
fastener
fastenerMagazinefastener
fastener
fastenerTrade Showsfastener
fastener
fastenerMy Officefastener
fastener
fastenerPost Inquiriesfastener
Home->Fastener News->Machinery makers face tough times worldwideYou are the 629510 visitors
Views:1965   |   recommendation:   |   Votes:0   |   Discuss:0
Machinery makers face tough times worldwide

China's machinery manufacturers will face tougher markets both domestically and overseas due to falling demand and the weak global economy, industry experts said on Tuesday.

According to data provided by the China Machinery Industry Federation, year-on-year growth of fixed-asset investment in the machinery sector in the first half of the current year was 3.07 percent, the lowest level since 2008.

Vice-President Chen Bin said the steel, coal, construction and oil industries experienced less demand during the period, which resulted in the slowdown in machinery investment.

"The machinery industry mainly serves those sectors. There is no sign of a rebound for those industries, which has led to our expectations for the machinery sector in the second half of the year continuing to be low," he said.

Chen said orders were not stable and the number of orders for the first six months grew by only 4.8 percent.

The export market, meanwhile, has been facing challenges posed by a weak world economy.

"Some countries are taking trade protectionist measures to help their own companies, which added to our difficulties in the export markets," Chen said.

Total exports by the industry in the first half stood at $182 billion in 2016, down 6.42 percent from last year, while imports during the same period dropped 7.51 percent to $127.8 billion.

Exports by China's private companies, which used to be the mainstay of the country's machinery exports, have been declining since the start of the year. Previous double-digit growth has turned to negative growth, the federation said.

For the first half, exports from the private sector declined by 0.66 percent year-on-year.

Export volumes by traditional large export provinces, including Jiangsu, Zhejiang and Guangdong, dropped by 2.55 percentage points to 5.47 percent year-on-year in the first half.

"The companies have to accelerate innovation in the manufacturing sector by closely cooperating with scientific and research institutions," Chen said.

Source: China Daily

2016/8/10 14:34:00

Previous:    No dumping in China's steel exports: official
        Next:    Sundram Fasteners ratchets up 95% in Q1

Recent Related News
China's mechanical industry to maintain steady growth--2019-02-27
China's excavator sales grow 27.7% in September--2018-10-26
China's excavator sales grow 33% in August--2018-09-10
Japan's core private-sector machinery orders gain 10.1 pct in April--2018-06-13
China excavator sales continue to grow fast--2018-06-12
China's excavator makers see faster sales growth--2018-05-08
China reports strong digging machine sales in Q1--2018-04-14
Rebound puts machinery on a roll--2017-10-17
China's machinery sector improves despite challenges--2017-08-11
Printed titanium parts expected to save millions in Boeing Dreamliner costs--2017-06-09
China's machinery industry expected to see mild growth in 2016--2016-03-25
China's machinery industry cools in 2015--2016-02-22

Vote for this news?

fastener(Very Good)
fastener(Good)
fastener(Normal)
fastener(Bad)
fastener(Very Bad)


Discuss
More Discuss...
Your Name: Anonymous

Enter the code shown:fastener5fastener

Fastener Trade Show Suzhou



China Fastener Directory
Get it FREE!
fastener
Get your CFD at the following shows:

•METALTECH, May 15-18, 2019, Malaysia

•IT BY FERROFORMA, Jun 4-6, 2019, Bilbao, Spain

•Fastener Fair Mexico, Jun 19-20, 2019, Mexico City, Mexico



Show Room



Offer Product

Latest News
• Japan's Fastener Production Value Hits Record High

• Over 600 U.S. firms urge Trump to solve China trade dispute

Buyers' Guide
Company News

• Dongtai Huawei Standard Component Corporation Develop New Products, Target on Mid and High-End Markets

• Based on R&D, Dongtai Huawei Offers Fasteners for Special Requirements

The Way to Enter Chinese Market
The Way to Enter Chinese Market


fastener