According to the statistics from the State Statistics Bureau, from January to July in 2020, the completed operating income of Enterprises above designated size in China’s machine tool industry decreased by 7.6% year-on-year, the same drop as that in January-June.

Total realized profits fell 1.9 per cent year on year, a decline of 0.6 percentage points less than in the January-June period.

China Machine Tool Industry Association important contact enterprises present a new feature of rapid recovery in July after a serious decline in the first quarter and a sustained recovery in the second quarter.

From the statistical data, machine tool industry as a whole, the decline in operating income continues to narrow, the total profit for the first time this year is growing, metal processing machine new orders and orders in hand both growth.

The fixed asset investment fell by 1.6 percent year on year from January to July,it is 1.5 percentage points less than from January to June period. Among them, the investment in purchasing fixed assets of equipment and tools, which is highly related to the machine tool industry, declined by 11.8% year on year, and contracted by 2.1 percentage points from January to June. Manufacturing investment fell 10.2 % percentage year on year, 1.5 percentage points less than in the january-June period. Investment continues to pick up momentum.

Investment in the automobile manufacturing industry, which is most closely related to the machine tool industry, fell 19.9% year on year in January-July, a decline of 1.0 percentage points narrower than that in January-June.

From January to July, automobile production and sales fell 11.8% and 12.7% year on year respectively, 5.0 and 4.2 percentage points narrower than that in January-June. In July, auto production and sales rose 21.9 percent and 16.4 percent, respectively, from a year earlier. Signs of warming are becoming more apparent.

In general, the overall operation of the machine tool industry continued to pick up in July, but some sub-industries and enterprises are still facing great difficulties and pressure. The global epidemic is still spreading and the domestic and international environment is complex and severe. We hope that industrial enterprises will pay close attention to changes in the situation, be good at turning crisis into opportunity, make full use of various support policies, actively explore market opportunities, and strive to achieve higher quality development.