In 2007, China's total investment in its general equipment industry reached CNY23.41 billion, up 49.4% year on year, or 14.6 percentages higher than growth rate of investment in China's manufacturing industry in the same period. In the fourth quarter of 2007, enterprise booming indicator of China's general equipment industry was 153.2, 3.7 percentage points lower than the third quarter, but 12.2 percentages higher than that of manufacturing industry in the same period.
Total Sales Revenue of China General Equipment Industry, May 2007-May 2008 (Unit: CNY billion)
Source: National Development and Reform Commission; National Bureau of statistics
In 2007, output of some products in China's general equipment industry increased rapidly, and for instance, the growth rates of fork truck, gas compressor and refrigerating & air conditioning equipment output were 41.14%, 40.40% and 37.95% respectively. However, some products like separating machines, electric boilers and power station hydro turbine, had a negative growth, down 0.02%, 0.32% and 2.46% respectively.
Although impacted by international anti-dumping cases and domestic export rebate policy, production scale of China's general equipment industry has not declined rapidly, and the competitive edges of the industry have increased further.
However, investment enthusiasm and production and sales ratio have decreased, and stock has gone up. Production scale of the whole industry will maintain a momentum of stable growth, and price index will continue to rise, while enterprise booming index will stay at a high level.
The report makes an in-depth study and analysis on China's general equipment industry development in 2007 and also makes forecasts on the development of the industry in 2008.