China’s Machinery Industry Reports Steady Revenue Growth in H1 of 2022

China’s machinery industry registered steady expansion in revenue during the first half of the year with the value added to the sector rising 0.7 percent year-on-year, according to the China Machinery Industry Federation (CMIF).

The operating revenue of businesses in the sector totaled RMB 12.95 trillion (about US

$1.9 trillion) during the period, up 5.44 percent year-on-year, according to data from the CMIF.

Since earlier this year, the industry has been facing headwinds due to unexpected factors like epidemic flare-ups. But the risks have been forestalled as local governments took active measures to stabilize the growth of the sector.