下半年机械工业经济运行将延续稳中向好

Core Insights - The mechanical industry in China showed stable growth in the first half of 2025, with key economic indicators such as value-added and profits increasing by 9.0% and 9.4% year-on-year respectively [1][2][3] - Despite facing challenges such as insufficient effective demand and price competition, the overall economic performance is expected to remain stable in the second half of the year, with a projected growth rate of around 5.5% for major economic indicators [1][3] Economic Performance - The value-added of large-scale enterprises in the mechanical industry grew by 9.0%, outperforming the national industrial and manufacturing growth rates by 2.6 and 2 percentage points [1] - Total operating revenue reached 15.3 trillion yuan, a year-on-year increase of 7.8%, exceeding the national industrial growth by 5.3 percentage points [1] - Total profits amounted to 791.2 billion yuan, reflecting a 9.4% year-on-year growth, which is 11.2 percentage points higher than the national industrial average [1] Strategic Emerging Industries - Strategic emerging industries significantly contributed to the mechanical industry's development, accounting for 82.8% of operating revenue and 82.6% of total profits in the first half of the year [2] - Key sectors such as new energy equipment, energy-saving and environmental protection equipment, and high-end equipment manufacturing showed growth rates above the overall mechanical industry level [2] Market Demand and Trade - The domestic market demand improved, with stable growth in the automotive sector, where production and sales reached 15.62 million and 15.65 million units respectively, marking year-on-year increases of 12.5% and 11.4% [2] - The total import and export value of the mechanical industry was 597.6 billion USD, a year-on-year increase of 7.1%, with exports growing by 12.4% to 465.94 billion USD [2] - The trade surplus reached 334.28 billion USD, up 23.3% year-on-year, representing 57.1% of the national trade surplus [2] Challenges and Policy Support - A significant 66% of surveyed enterprises reported insufficient orders, with trends indicating a decline in order growth and an increase in short-term orders [3] - Despite the challenges, macroeconomic and industrial policies are being strengthened to enhance supply capabilities and optimize the industry environment [3] - The overall assessment indicates that the strategic opportunities for the mechanical industry outweigh the risks, with expectations for continued stable economic performance in the second half of the year [3]