Prospect and forecast of development of machinery industry in China

Update:04 Aug 2016

In 2010, the raw materials market is in reasonable leve […]

In 2010, the raw materials market is in reasonable level, which creates a good external environment for the development of machinery industry.. 2011 is expected to inflationary pressures still larger, the raw material is the focus of the machinery industry's attention.With the gradual recovery of the world economy, the demand for basic raw materials increases, the long-term trend of rising raw material prices is irreversible. But because of the machinery industry of steel, copper, aluminum, and silicon steel sheet, etc mainly raw materials demand large and larger proportion in the cost of products. Therefore, the industry of the changes in the prices of raw materials more sensitive, especially weak capacity of raw material price fluctuations, China Machinery Industry Federation suggested that the relevant departments to increase the intensity of macroeconomic regulation and control, to maintain stable prices of raw materials.

At the same time, there is a trade deficit pressure. First, the central economic work conference pointed out that to expand imports, and promote foreign trade balance development. Recently, Ministry of commerce should strive to achieve trade balance, to encourage the expansion of imports of advanced technology and equipment, revised and expanded encourage the catalogue of imported products, and the implementation of imported free of customs duties and value-added tax preferential policies. Secondly, the cross-strait economic cooperation framework agreement, from January 1, 2011 onwards, the mainland imported from Taiwan machinery products have 176 kinds of tariff reduction.Next is the appreciation of the RMB will reduce the import costs, import favorable.