Investment in fixed assets in machinery industry fell back
Since the beginning of this year, with the world economy still complex and volatile and China's economic development entering a new normal, the machinery industry has achieved steady development. Statistics show that from January to October, the machinery industry completed a total investment of 410.283 billion yuan in fixed assets, an increase of 0.74 % year-on-year. From January to September, the total import and export volume of the machinery industry totaled 47.683 billion U.S. dollars, down 4.89 % year-on-year, and the cumulative import and export trade surplus was 80,668 billion U.S. dollars. In the first nine months, the total profit of the machinery industry was 1.14 trillion yuan, an increase of 7.43 % year-on-year, which was 7.09 percentage points higher than the industry's year-on-year growth rate of 7.09 percentage points, slightly lower than the national industry's 0.95 percentage points.
The trend of falling investment in fixed assets increased from January to October, and the total investment in fixed assets in the machinery industry reached 410.283 billion yuan, an increase of 0.74 % over the previous year, a drop of 0.8 percentage points from January to September, a drop of 2.33 percentage points from January to June, and a drop of 10.36 percentage points from January to March. Lower than the national and manufacturing 7.56 and 2.36 percentage points, respectively. In that month, October was the month with the largest year-on-year decline in fixed asset investment in the machinery industry, down 6.48 per cent, and down 5.23 per cent from August and September growth. In the 13 major industries combined by the machinery industry, the investment scale continues to expand, the industry investment growth rate slows down year-on-year, the industry contribution rate varies greatly, and the investment concentration of small industries is high.
