According to data released by the China Machinery Industry Federation, the value of finished goods in the machinery industry in China reached CNY 1.46 trillion during the first seven months of 2010 an increase of 39.72%YoY.
The value of finished goods in the construction machinery sector soared 91.56%YoY. During the first seven months of the year, transport machinery output soared 55%YoY while the output of compacting machinery more than doubled compared to last year.
The sales volume of major machinery products in the same period rose 67%YoY. In addition, CMIF predicts that the machinery industry will grow above 30%YoY and exports from this industry will hit between USD 8.5 billion and USD 9 billion this year.
