CCTV.com: Reporters learned from the China Machinery Industry Federation on August 27 that my country's machinery industry has achieved strong export growth this year, bucking broader trends. Machinery exports have outperformed the national overall foreign trade growth rate for 47 consecutive months, with multiple growth drivers highlighting the sector's role as a "ballast" for foreign trade.
Latest data shows that in the first seven months of this year, the cumulative export value of my country's machinery industry reached US$664.3 billion, a year-on-year increase of 20.8%. This growth rate exceeded the national overall foreign trade growth rate by 2.3 percentage points, and machinery exports accounted for 26.3% of the country's total goods exports, firmly cementing the industry's status as a "ballast" for foreign trade. Order data from enterprises indicates robust growth momentum.
Experts point out that the impressive export figures of China's machinery industry are underpinned by three core pillars: First, the sustained release of rigid demand for equipment driven by the global green transition in infrastructure; specifically, there is rapidly expanding demand for low-carbon, heavy-duty equipment in sectors such as overseas mining, ports, and new energy power plants. Second, the long-term accumulation of technological expertise within the domestic industry is paying off; high-end equipment now rivals top international brands in performance while offering superior adaptability. Third, the globalization strategies-spanning R&D, manufacturing, and service networks-cultivated by enterprises over the years are coming to fruition, with enhanced localized service capabilities significantly boosting acceptance among overseas customers.
Ye Dingda, Vice President of the China Machinery Industry Federation, noted that the sustained growth in machinery exports is the result of the entire industry's years of dedication to technological upgrades and serving the global market. Growth rates in both "Belt and Road" partner countries and the EU market have reached double digits, demonstrating that Chinese machinery products can meet the needs of countries at various stages of development and signaling a shift from simple product exports to the delivery of services across the entire value chain.
A second key feature is the simultaneous advancement of pillar sectors and the continued accumulation of new growth drivers. Five major sectors-electrical equipment and appliances, automobiles, general petrochemical equipment, construction machinery, and basic mechanical components-account for over 70% of total export value. All fourteen sub-sectors achieved year-on-year growth, with nine exceeding 10%; notably, the electrical equipment, automobile, and construction machinery sectors maintained double-digit growth for over 13 consecutive months.
Furthermore, the product mix of my country's machinery industry has been rapidly shifting toward the high-end segment this year. Exports of complete vehicles rose by 56.5%, while both the volume and value of electric passenger vehicle exports surged by more than 70%. High-tech, high-value-added products are becoming the primary engines of export growth.
Ye Dingda observed that while export growth previously relied on a few individual sectors, a stable growth structure has now emerged, characterized by industry-wide synergy and complementary markets.
The transition from exporting standalone units to delivering comprehensive green solutions, and from competing on price to competing on full-lifecycle technical services, represents a new highlight for my country's machinery exports. Fundamentally, this reflects the global impact of the industry's cultivated "new quality productive forces," demonstrating the contribution of Chinese equipment to the green upgrading of global industries. Observers note that the global competitiveness of my country's machinery industry has shifted toward a synergistic advantage defined by three key trends: high-end capabilities, intelligent technologies, and green practices. For instance, a hybrid loader delivered by XCMG to an overseas mining site-boasting the highest load capacity in its class globally-has helped the mining project slash its comprehensive energy costs by over 60%. Meanwhile, BYD's new energy vehicles saw overseas sales reach 789,400 units in the first half of the year-a year-on-year increase of approximately 68%-earning widespread recognition from consumers worldwide.
As the value-added content of the machinery industry rises, so does the profitability of domestic enterprises' overseas operations. For example, overseas revenue has accounted for nearly 60% of Zoomlion's total revenue so far this year, with gross margins on overseas business exceeding those of domestic operations; the company has successfully transitioned from merely exporting individual machines to providing complete equipment sets and full-lifecycle operation and maintenance services.
Experts state that these vivid examples demonstrate how China is leveraging core competencies derived from "new quality productive forces" to reshape the global division of labor in the equipment industry, thereby bolstering the resilience and stability of global industrial and supply chains.
Ye Dingda noted that the highlights of the machinery industry's export performance lie not simply in quantitative growth, but in a qualitative transformation of the entire industry's development. Chinese equipment not only delivers low-carbon, high-efficiency solutions to global users but also shares the practical experience gained through technological iteration with the rest of the world-representing a significant contribution by Chinese manufacturing to the global process of industrial upgrading.
