Machinery industry is one of the important pillar industries in China’s national economy.
In 2023, under the guidance of the “Stable Growth Work Plan for the Machinery Industry (2023-2024)” jointly issued by the Ministry of Industry and Information Technology and other seven departments, the machinery industry as a whole shows a warming trend and has entered the stage of recovery growth, and the “new three” represented by solar cells, lithium batteries and electric manned vehicles continue to prosper as emerging industries. Inject new momentum into the machinery industry, and the main economic indicators of the machinery industry have steadily improved.
The latest data from the China Machinery Industry Federation show that from January to November 2023, China’s machinery industry achieved a cumulative operating income of 26.6 trillion yuan, an increase of 6.8%; The total profit reached 1.6 trillion yuan, up by 3.0% year-on-year. The growth rate of revenue and profit is higher than that of the national industry in the same period.
By the end of 2023, the number of industrial enterprises above designated size in the machinery industry reached 111,000 (an increase of 12,000 over the previous year), accounting for 24.7% of the number of industrial enterprises above designated size in the country, and the total assets reached 32.5 trillion yuan (an increase of 13.1% over the previous year), accounting for 20.8% of the total industrial assets in the country. This series of data confirms that the scale of the machinery industry continues to expand, and the growth momentum of assets is good.
In 2023, the demand for steel in the machinery manufacturing industry showed an increase. According to relevant analysis estimates, in 2023, the steel consumption of the machinery industry reached 172 million tons, an increase of 1.2% over the previous year. Looking forward to 2024, it is expected that the steady growth of the machinery manufacturing industry will continue, and the “steel demand” will continue to increase.
The “Work Plan for Stable Growth of the Machinery Industry (2023-2024)” proposes that the machinery industry should focus on improving the basic capacity of the industry, break through the key core technologies and components such as system control and hydraulics, and supplement the short board of industrial development; Guide enterprises to strengthen the key core components and scale applications of batteries, motors, electric controls and other key components for new energy construction machinery; The construction of industrial clusters has been continuously promoted, and a number of competitive clusters of small and medium-sized enterprises with characteristics and 10 industrial clusters with international competitiveness of about 100 billion yuan have been cultivated.
On December 21, 2023, the National Conference on Industry and Information Technology pointed out that in 2024, 12 key tasks such as fully promoting the steady growth of the industrial economy will be done. One of them is to fully implement the high-quality development of key industrial chains in the manufacturing industry. Specifically, we will coordinate and promote key core technology research projects, industrial base reengineering projects and major technology and equipment research projects, strengthen application traction, accelerate technological breakthroughs and the application of achievements, and achieve “turning points into beads and beads into chains”.
On December 26, 2023, the Expert Committee of the China Machinery Industry Federation held a Chamber of Commerce meeting on the situation and development ideas facing the machinery industry in 2024 in Beijing, and proposed that there are differences in the economic operation trend of each sub-industry of the machinery industry in 2024, and special attention should be paid to key areas such as the automotive and electrical industries. Some industries are expected to recover, but there are still uncertainties in the economic operation of individual industries.
In 2024, the mechanical equipment produced by the machinery manufacturing industry will develop to high performance, high quality and high reliability, which will put forward higher requirements for the quality and performance of steel, and the demand for high-end steel with high strength, high toughness and high quality will continue to increase. According to relevant analysis, in 2024, the steel consumption of the machinery industry will reach 173 million tons, an increase of 0.6% on the basis of 1.2% growth in 2023.
