Overall development of the machinery industry in 2024

Overall development of the machinery industry in 2024:
Economic operation remains stable with progress: In 2024, the overall economic operation of the machinery industry will show a trend of stability with progress. The first quarter started well, the second quarter was generally stable, the growth rate of major indicators slowed down in the third quarter, and in the fourth quarter, with the implementation and effectiveness of the "two new" policies and a package of incremental policy measures, the industry's operating situation stabilized and rebounded.
The industrial scale has reached a new high: by the end of 2024, the number of enterprises above designated size in the machinery industry reached 132000, an increase of 11000 from the previous year, accounting for 25.8% of the national industry; The total assets reached 39.4 trillion yuan, a year-on-year increase of 5.2%, accounting for 22.1% of the country's industrial sector.
Significant achievements in transformation and upgrading: In 2024, the machinery industry will adhere to technological innovation and green development, actively promote high-end, intelligent, green, and integrated development, and present five highlights, including technological innovation promoting the improvement of industrial foundation, accelerating green and low-carbon transformation, deepening intelligent manufacturing, continuously deepening international cooperation, and continuing to optimize foreign trade export structure.
Foreign trade exports hit a new high: in 2024, China's machinery industry's foreign trade exports hit a new high, the new pattern of diversified foreign trade market was further consolidated, and exports to the "the Belt and Road" co construction countries, ASEAN, Africa, Latin America and other regions achieved growth.
Facing challenges: In 2024, the machinery industry will also face some difficulties and challenges, such as sluggish market demand, continuous decline in product prices, significant decline in profitability, increased pressure on account collection, and production and operation difficulties for some enterprises.