China's Machinery Enterprises Set Record High Overall Output in 2002

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Last updated at: (Beijing Time) Thursday, January 23, 2003

China's Machinery Enterprises Set Record High Overall Output in 2002

China's machinery enterprises achieved a record overall output of 1848.9 billion yuan (231 billion US dollars) in 2002, up 25.12 percent over the previous year.

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China's machinery enterprises achieved a record overall output of 1848.9 billion yuan (231 billion US dollars) in 2002, up 25.12 percent over the previous year.

The production of 13 machinery products increased rapidly, with sedans ranking the first with a 3.47 million unit output, up 38.45percent over the previous year, Cai Weici, vice president of the China Machinery Industry Federation, told a press conference Wednesday.

Cai said that the sales income of the machinery industry from January to November last year reached 1515.3 billion yuan (188 billion US dollars), up 23.89 percent from the same period of the previous year. Net profit during the period reached 83.1 billion yuan (10 billion US dollars), up 46.54 percent from the same period of the previous year.

He said that the machinery industry achieved progress in industrial structure adjustment in 2002, with new products increasing 40.12 percent compared with the previous year. Research and production in major construction projects also reaped good results.

The rapid development of China's machinery industry can be attributed to China's active policy of stimulating domestic demand, Cai said. Meanwhile auto and real estate consumption also drove the large demand of various machinery products.

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