The machinery industry successfully completed the goals and tasks of the “14th Five-Year Plan” and performed well in many indicators.
During the “14th Five-Year Plan” period, the machinery industry has thoroughly implemented the requirements for high-quality development, effectively responded to various impacts and challenges, expanded in size, enhanced innovation capabilities, deepened transformation and upgrading, and increased international competitiveness, laying a solid foundation for promoting new industrialization and the construction of a modern industrial system.
The vice president of the China Machinery Industry Federation said: “The machinery industry has conscientiously implemented the decisions and arrangements of the Party Central Committee and the State Council, faced difficulties and worked hard. With the support of a series of policies and measures to stabilize growth such as the country’s ‘double emphasis’ and ‘two new’ policies, the industry’s economic operation has been stable and progressing, high-quality development has achieved positive results, and the ’14th Five-Year Plan’ goals and tasks have been successfully completed.”
First of all, the scale of the industry continues to grow and the foundation for development becomes more solid.
During the “14th Five-Year Plan” period, the added value of enterprises above designated size in the machinery industry grew at an average annual rate of 7.4%, a growth rate that was 1.5 percentage points higher than that of the national industry.
The number of enterprises above designated size, total assets, operating income and other indicators have all increased significantly, and their proportion in the national industry has increased compared with 2020, and the overall strength and contribution of the industry have further improved.
Secondly, innovation capabilities have been significantly enhanced, and supply capabilities in key areas have been significantly improved.
During the “14th Five-Year Plan” period, the machinery industry continued to strengthen the construction of the innovation system and basically formed an industry innovation network covering key areas.
Remarkable results have been achieved in cultivating innovative entities, R&D investment has grown steadily, major equipment innovations have emerged, and the resilience of the industrial and supply chains has steadily improved.
Furthermore, green and intelligent two-wheel drive has achieved outstanding results in transformation and upgrading.
During the “14th Five-Year Plan” period, the machinery industry’s green and low-carbon transformation, digital transformation and intelligent transformation and upgrading have achieved remarkable results.
The new energy automobile industry is booming, clean energy equipment is developing rapidly, new productivity is growing vigorously, the construction of smart factories is accelerating, new business formats and new models are constantly emerging, and the corporate value chain continues to extend to the high end.
Finally, international competitiveness has been significantly improved, and the status of the global industrial chain has been steadily improved.
During the “14th Five-Year Plan” period, the scale of foreign trade in the machinery industry continued to hit new highs, with particularly outstanding export performance. The trade structure continued to be optimized, and the export of complete machinery and equipment achieved an order of magnitude leap, which played an important supporting role in stabilizing the country’s foreign trade.
Looking forward to 2026 and even the “15th Five-Year Plan” period, the development of the machinery industry will be faced with deepening changes in the external environment and increasing risks and challenges.
The international situation is generally tightening, with frequent geopolitical conflicts and sudden changes in the tariff game. The global economy is facing downward pressure, international market demand is shrinking, the foreign trade environment is becoming increasingly complex, and uncertainty has increased significantly.
The contradiction between strong domestic supply and weak demand is prominent, and the problems of price “involution” and difficulty in collecting accounts in some industries have become prominent.
At the same time, favorable conditions supporting the high-quality development of the industry are constantly accumulating and increasing.
