China's machine-building sector reports higher output value in 2004
www.chinaview.cn 2005-02-02 22:46:30
BEIJING, Feb. 2 (Xinhuanet) -- The total output value of China's machine-building industry hit 3.27 trillion yuan (395 billion US dollars) in 2004, up 27.4 percent year-on-year, an official in charge of machine-building affairs, said here Wednesday.
While addressing a yearly press conference of machine building industry, Cai Weici, vice president of China Machinery Industry Federation, said the machine building sector in the country has performed well in the past year.
According to the statistics released by the federation, profitsof the industry reach 185.8 billion yuan (22.5 billion US dollars)in 2004, a rise of 16.5 percent from that in 2003, accounting for 16.4 percent of the country's overall industrial profits.
The statistics also show export in the machine building sector has grown by 50 percent to 858 billion yuan (104 billion US dollars). Imports have grown by 43 percent to 137 billion yuan (16.6 billion US dollars) in 2004, compared with that in 2003.
After adjustments of industrial set-up and further reform, Cai said, a number of corporations in the sector had seen their sale revenue up to 10 billion yuan in 2004.
In 2005, the development of machine-building industry is expected to go on increasing steadily, Cai acknowledged. He predicted that the sector's output value is estimated to grow by anywhere from 15 to 20 percent and profits by 10 percent. Enditem
news.xinhuanet.com |
