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Slowest growth since 2008, recovery signs showed
机械制造业遭遇瓶颈
China's machinery sector is facing headwinds. The sector posted the slowest growth in the first half year since the 2008 financial crisis. But the silver lining is, the industry is showing signs of rebound.
China's machinery industry continued last year's weak performance in the first half of 2015.
Data released by the China Machinery Industry Federation showed that its total revenue stood at 10.7 trillion yuan from January to June, up 3.5 percent on a yearly basis.
Compared with the two-digit growth rate in the same period last year, the latest reading hit its lowest level since 2008. At the mean time, profits in the machinery sector only inched up 0.13 percent, the lowest in five years.
Fortunately, China's machinery sector is actually showing little sparks of recovery. The growth of fixed asset investment speeded up for two consecutive months, while the profits from private owners jumped more than 9 percent. Policy favors designed at stabilizing growth including the "Made In China 2025" have started to pay off, and will help the factory sector gather pace through the year.
