China's machinery industry shows stable performance, new growth momentum in H1

BEIJING, Aug. 7 (Xinhua) -- China's machinery industry performed well in the first half of the year (H1), while its intelligent and green initiatives gained traction, according to the China Machinery Industry Federation (CMIF) on Wednesday.

In the first six months, essential products such as automobiles and electrical equipment grew at a rapid pace, according to the federation.

During the period, the automotive industry's added value increased by 9.8 percent year on year. Meanwhile, the CMIF reported an increase in production of around 61.5 percent of the 122 kinds of mechanical products monitored by the federation.

In H1, the country's machinery industry saw new momentum, including new energy vehicles (NEVs) and industrial robots. During the cited period, the production and sales of NEVs grew by 30.1 percent and 32 percent from a year earlier, respectively, while the industrial robots output increased by 9.6 percent.

In addition, the CMIF said that the installed capacity of green energy power generation accounted for about 85 percent of the country's total of newly added installed capacity in the first six months.

Focusing on key links and weak points in the industrial chain and supply chain, the industry has accelerated the research and development (R&D) of core technologies and equipment in recent years, said Luo Junjie, executive vice president of the federation.

A number of independent R&D achievements emerged in concentration in the first half of the year, further enhancing the resilience and security level of the industrial chain and supply chain, Luo added.?