The China Machinery Industry Federation held a press conference on the 17th to brief on the economic performance of the machinery industry for the full year 2013. Last year, the value-added of China's machinery industry grew by 10.9%, 1.2 percentage points higher than the national industrial average; main business revenue of the machinery industry grew steadily. Against the backdrop of steady production growth, the growth of economic efficiency in the machinery industry rebounded faster than that of production and sales.

　　"In 2013, the machinery industry achieved cumulative main business revenue of 20.4 trillion yuan, marking the first time China's machinery industry has surpassed the 20 trillion yuan threshold," said Cai Weici, Executive Vice President of the China Machinery Industry Federation. "But at the same time, we see that imports amounted to 298.8 billion US dollars, with most of these imported products concentrated in high-technology fields. China's machinery industry still has a long way to go."

　　According to Cai Weici, the machinery industry saw moderate production growth last year. Among the 64 major machinery industry products published by the National Bureau of Statistics, 39 products achieved year-on-year output growth, accounting for 60.9%; 25 products saw year-on-year output declines, accounting for 39.06%. Detailed analysis shows that products more closely related to consumption, as well as those directly serving automation and intelligent upgrading—such as agricultural machinery, passenger vehicles, and instruments and meters—had relatively good production and sales performance; while typical investment-related products, such as machine tools, construction machinery, heavy machinery, and power generation equipment, had relatively poor production and sales performance.

　　Cai Weici introduced that in 2013, the machinery industry completed cumulative fixed asset investment of 3.99 trillion yuan, up 17.2% year on year, a decline of 7.7 percentage points compared with the growth rate of the machinery industry in the previous year. The industry achieved cumulative total profits of 1.41 trillion yuan for the full year, up 15.6% over the previous year.