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China's machinery industry's Q1 gross output hits RMB 4 trln

May. 10, 2012 (China Knowledge) - The machinery industry in China saw its gross output rise 13.27% year on year to RMB 4 trillion in the first quarter of this year, according to statistics released by the China Machinery Industry Federation.

In March, the industry's gross output increased 16.48% year on year to RMB 1.62 trillion, slowing from a 32.12% growth in February.

The industry realized RMB 3.89 trillion in sales value in the first three months, reflecting a growth of 12.51% year on year.

The sector's fixed-asset investment surged 29.44% year on year to RMB 506.74 billion in the quarter.

In 2011, the industry's gross output jumped 25% year on year to RMB 16.89 trillion, and its value-added output increased 15% from the previous year. The sector experienced a slower growth of 23% in exports last year, which stood at US$631.2 billion.

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