CHINA’S MACHINERY INDUSTRY EXPECTED TO SEE MILD GROWTH IN 2016

The machinery industry in China is relied upon to see gentle development this year as auxiliary change offers want to the overcapacity part.

The worth added yield is required to rise 5.5 percent year on year, said Wang Ruixiang, president of the China Machinery Industry Federation (CMIF), on Thursday.

The CMIF will advance the redesign of the business, support development and improve aggressiveness through auxiliary change in 2016 and also putting clever assembling as top need, said Wang .

China’s machine industry developed at a yearly rate of more than 25 percent in the decade from 2001, when the nation’s financial motor kept up solid energy. In any case, the productive segment has started to experience the ill effects of genuine overcapacity since 2011 as interest debilitated and inventories heaped up, weighed on by a general monetary stoppage.

In 2015, the quality included yield of the hardware business expanded 5.5 percent year on year, down from the 10 percent development rate seen in 2014, CMIF information appeared.

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Source: http://www.shanghaidaily.com/article/article_xinhua.aspx?id=324861

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