From industry statistics for the first four months of this year, it's clear that the machinery sector has maintained a strong performance, with production and sales showing consistent growth. Particularly notable is the robust recovery in key areas such as agricultural machinery, construction equipment, and the automotive industry. The output of harvesting machines and refining and chemical equipment has seen significant increases, reflecting growing demand across these sectors.
Production and sales have continued to rise at a rapid pace. From January to April, the total industrial output value of the entire machinery industry reached 1,454.836 billion yuan, up 28.46% year-on-year. Sales value totaled 1.496466 trillion yuan, an increase of 28.72%. This growth comes after a period of adjustment last year, when macroeconomic policies led to lower base figures, resulting in higher year-on-year growth rates. Compared to the same period last year, both production and sales saw increases of 10.45 and 10.56 percentage points respectively.
Among the industries, construction machinery experienced the highest growth, rising 36.40% year-on-year, followed closely by agricultural machinery (33.17%) and the auto industry (31.54%). These sectors, which were heavily impacted by earlier regulatory measures, have shown a strong rebound this year. For example, the construction and auto sectors saw growth rates 47.01 and 28.03 percentage points higher than the same period last year.
New product development also accelerated, with the output value of new products reaching 300.769 billion yuan, up 31.80% from the previous year. This outperformed the overall industry growth by 3.34 percentage points. In terms of regional performance, both eastern and western regions saw higher growth in new product output than the overall industry. Notably, the western region showed even stronger momentum, with growth rates 3.91 and 15.03 percentage points higher than the eastern and central regions, respectively.
While export delivery values rose by 22.31% year-on-year to 235.953 billion yuan, the monthly growth rate declined consistently from January to April, indicating some challenges in international markets.
The sales rate for machinery products was 96.75%, slightly below the national average of 97.35%. Some sectors, like the cultural office industry and the automobile industry, performed better, while others, such as the instrumentation and internal combustion engine industries, lagged behind.
Most major products saw increased output. Among the 95 key products, 79 showed year-on-year growth. Harvesting machinery, on-field working machinery, and large and medium-sized tractors saw massive gains, with harvesting machinery up 94.80% and tractors up 60.49%. Petrochemical equipment and paper machinery also saw impressive growth, up 157.47% and 75.99%, respectively.
Power generation equipment production grew by 23.20% year-on-year, but the monthly growth rate slowed, with a slight decline in the latest month. Meanwhile, the auto industry grew by 31.79% year-on-year, though this was down 4.51 percentage points from the previous month. Passenger cars, in particular, saw a sharp increase of 62.41%, continuing the trend of strong performance in the sector.
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