Chinese machinery output soared last decade, still rising steadily
The output value of China's mechanical industry grew by more than 25 percent per year over the past 10 years, increasing from more than 1.4 trillion yuan in 2000 to nearly 14.4 trillion yuan in 2010.
The asset size of China's mechanical industry also increased from 2 trillion yuan to 10.4 trillion yuan over the past 10 years and the equipment self-sufficiency rate increased from 70 percent to 85 percent.
At present, the output value of China's machinery industry in one month is equivalent to the total annual output value in 2000.
The annual growth of China's mechanical industry output value will stay at around 12 percent during the 12th Five-Year Plan period and the annual growth of China's mechanical industry export revenue will stay around 15 percent, according to the "Overall Plan of the Machinery Industry Development during the 12th Five-Year Plan Period" released recently.
