China's Machine Tool Industry Operating Situation to Good Import and Export Gradually Stabilize

China Machine Tool Industry Association released on the 17th in the first half of 2020 machine tool industry economic performance analysis: the first half of the new crown pneumonia epidemic caused serious impact on the machine tool industry, January-February the main economic indicators fell sharply;

From January to June, China's machine tool industry completed a total operating income of RMB294.66 billion, down 7.6% YoY. Since the beginning of this year, the year-on-year decline in the cumulative monthly completion of operating income narrowed significantly month by month, and the year-on-year change was more pronounced, with the year-on-year increase in operating income for the third consecutive month after April.

In addition, the total realized profits of the machine tool industry in January-June amounted to 15.83 billion yuan, a decrease of 2.5% YoY, 10.3 percentage points less than the total profit of industrial enterprises above the national scale. The year-on-year decline in total profits accumulated in each month so far this year narrowed significantly month by month.

With the situation of China's domestic epidemic to good and a series of stable foreign trade policy measures continue to release, since March this year, imports and exports gradually stabilized. In the first half of the year, China's total imports and exports of machine tools amounted to US$12.27 billion, down 12.3% YoY, a decrease of 3.8 percentage points from the first quarter. Among them, imports fell 15.7% year-on-year, a 5.6 percentage point decline from the first quarter, while exports fell 8.9% year-on-year, down 1.7 percentage points from the first quarter.

Due to the current epidemic spreading around the world, the world economy is in a serious recession, international trade and investment is shrinking, foreign trade is facing increased uncertainties, the second half of China's machine tool industry import and export situation is still grim.

Analysis of China Machine Tool Industry Association pointed out that, in summary of various factors, China's epidemic prevention and control situation continued to improve, various policy measures gradually show edifal, a variety of positive factors continue to accumulate, but the second half of the industry continued to improve the basis of uncertainty is still relatively large, the main economic indicators of China's machine tool industry is expected to be the same as the previous year.