August 30, 2008

China self sufficiency in machinery industry exceeded 80%

Mr Cai Weici vice chairman of China Machinery Industry Federation, while speaking in 2007 economy development conference, said that China's machinery equipment self supply stood at 71% in 2001 and for the year end of 2007 amounted to 82%.

Moreover, China has become the net import country from net export ones in machinery industry since the year of 2006.

As per reports, China machinery industry realized trade surplus USD 22.5 billion in the first 11 months this year, accounting for 9.43% in the Chinese foreign trade surplus and machinery industry was one of the trade deficit industries in China in the past.