In The Process of Economic Operation, The Industrial Development Highlights Are Various -- An Overview of The Economic Operation of The Machinery Industry in 2023

The economy is moving steadily and there are many bright spots in industrial development

-- Overview of economic operation of machinery industry in 2023

The year 2023 will be the first year to fully implement the spirit of the Party's 20 National Congress and a year for economic recovery after three years of COVID-19 prevention and control. Looking forward to 2024, the opportunities and challenges of the machinery industry coexist, but the favorable conditions are stronger than the unfavorable factors, and the economic operation is still expected to maintain the overall trend of stability and progress throughout the year.

First, the basic characteristics of 2023 industry operation

Although the economic operation of the machinery industry in 2023 has experienced fluctuations, the operation trend is generally good. Affected by the comparison base, the growth rate of the main indicators was lower in the first quarter, the growth rate was higher in the second quarter, and the growth rate slowed down in the third quarter, but with the concentrated introduction and implementation of a number of stable economic policy measures, the industry's operation in the fourth quarter again stabilized and improved, and the main economic indicators achieved steady growth throughout the year.

The scale of the industry has reached a new level

By the end of 2023, the number of enterprises above designated scale in the machinery industry was 121,000, an increase of 10,000 over the previous year, accounting for 25% of the national industry, an increase of 0.3 percentage points over the previous year; Assets totaled 36 trillion yuan, up 9.9 percent year on year, accounting for 21.5 percent of the country's industry, up 0.7 percentage points from the previous year.

The growth rate of added value is higher than that of the national industry

In 2023, the added value of the machinery industry increased by 8.7% year-on-year, which is 4.1 and 3.7 percentage points higher than the growth rate of the national industrial and manufacturing industries. The added value of the five major categories of national economic industries mainly involved in the machinery industry increased, of which electrical machinery and automobiles played a prominent role in driving the added value growth rate of 12.9% and 13% respectively; General equipment, special equipment and instrumentation added value grew at a lower rate of 2%, 3.6% and 3.3%, respectively.

Product production and marketing situation differentiation

In 2023, the production and marketing situation of the main products of the machinery industry continued the differentiation trend of the previous year, and the number of products that increased or decreased in output accounted for about half. Of the 120 major products monitored, the output of 61 products increased year-on-year, accounting for 50.8%; The output of 59 kinds of products decreased year-on-year, accounting for 49.2%.

The main features of the production and sales of key products are as follows: First, the production and sales volume of automobiles reached a record high, and the production and sales volume of automobiles exceeded 30 million in the year, and both passenger cars and commercial vehicles achieved rapid growth; The production and sales of new energy vehicles reached about 9.5 million, accounting for 31.6% of the total automobile sales, and the industrial structure adjustment has achieved remarkable results. Second, electrical and electrical appliances continued to grow, generating sets, solar cell production increased by 28.5% and 54%, respectively. Third, the production of machine tool industry picked up, and the output of gold cutting machine tools increased by 6.4% year-on-year. Fourth, construction machinery is still sluggish, excavator, loader sales fell 25.4% and 15.8%, respectively. Fifth, agricultural machinery products continued to be depressed, and the output of large and medium-sized tractors and special equipment for feed production fell by 1.9%, 9.1% and 21.2%, respectively.

Foreign trade rose steadily and reached a new high

In 2023, the world political and economic situation is complex and severe, global trade performance is sluggish, and weak external demand brings pressure on export growth, but China's machinery industry has withstood multiple pressures, and foreign trade has risen steadily to a new high, demonstrating strong resilience and international competitiveness. According to the summary of customs statistics, the total import and export volume of machinery industry in 2023 reached 1.09 trillion US dollars, an increase of 1.7%, more than one trillion US dollars for the third consecutive year, accounting for 18.3% of the country's total import and export volume.

The operation of the industry is in the boom range

The machinery industry boom index covers production, investment, foreign trade, economic benefits and other dimensions, and comprehensively reflects the operation of the machinery industry. Affected by the base of the previous year, the 2023 machinery industry boom index generally showed a stable trend before low and high, the first half of the year opened high, rose to the highest point of the year in May, and then fell to stabilize month by month, and stabilized to 105.5 in December, and the machinery industry boom index was located in the boom range in each month of the year.

On the whole

In 2024, opportunities and challenges coexist in the development of machinery industry, but opportunities are greater than challenges, and favorable conditions are stronger than unfavorable factors. Overall judgment, it is expected that the economic operation of the machinery industry will continue to stabilize in the overall trend of good, the growth rate of the main economic indicators is expected to be more than 5%, and foreign trade will remain basically stable.

The year 2024 marks the 75th anniversary of the founding of New China and is a key year for the implementation of the 14th Five-Year Plan. Steadily promote high-end, intelligent and green development, continue to promote the stable operation of the machinery industry, and present a gift to the 75th birthday of the motherland with more excellent results.