Machinery industry might increase 20% in 2009

     In recent 5 five years, machinery industry keeps an increase of more than 30%,even effected by domestic tightening and rising of steel cost, the increase of machinery industry on 4 quarters of a year still reached by 27%, and export increased by 31.9%, among which sub-industry such as engineering machinery, mining, shipbuilding, electrical appliances, petrochemical equipment are still the lightspots.

    China Citic Bank Security Macro Analyst expected that the speedup of Chinese GDP and permanent assets investment have a dramatic decline in 2009 compared with 2008, the accelerate of import substitute could partly make up the speed-down of domestic demand and domestic demand of machinery will fall slightly after rise by considering technical progress, policy supporting and advantages of cost performance and so on.

    If take all factors of domestic demand and export situation into consideration, the increase of machinery industry is about 20% in 2009, both opportunity and risk will exist in machinery industry in 2009.

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