January 22, 2008 -- The output value of China's machine-building industry exceeded seven trillion yuan (US$966 billion) for the first time in 2007, growing nearly 32 per cent year-on-year.

China's machine-building industry has grown at a rate of over 20 per cent for five years running, statistics published by China Machinery Industry Federation show.

Large-scale machinery enterprises generated 388.666 billion yuan in profit in the first eleven months of 2007, up 47.79 per cent year-on-year, nearly 16 percentage points higher than the growth of the output value of the industry; and turned in 210.262 billion yuan in taxes, a year-on-year increase of 27.59 per cent or 48.19 billion yuan.

Of the 95 kinds of major products on statistics, 79 reported growth and 74 or 77.89 per cent of the total even reported two-digit growth. The output of power equipment exceeded 120 million kilowatts in the first eleven months; the output of digitally controlled machine tools is estimated to stand above 120,000 units in 2007, a year-on-year net increase of 35,000 units; and auto output reached 8.88 million units, up 22.02 per cent.

The assets liability rate of large machinery enterprises was 59.52 per cent in 2007, 0.27 percentage points lower year-on-year; and the turnover of floating assets, 2.09 times, 0.77 times faster.

Source: Asia Pulse