China's machine tool industry enterprises generally reflect current operational difficulties

In order to analyze the economic situation of the machinery industry, the Industry Coordination Division organized a symposium on the economic situation of the machine tool industry. The China Machine Tool Industry Association and the key enterprises of the industry attended the meeting. Associations and enterprises generally reflect the current operational difficulties. Operating income in the first five months of this year dropped significantly year-on-year. New orders and on-hand orders decreased significantly year-on-year, and finished goods inventory and accounts receivable increased significantly. From the perspective of product structure, medium and low-end ordinary machine tools are more affected, and medium-to-high-end machine tools and specific product-oriented products serving aerospace and other key areas are relatively less affected. At the same time, associations and enterprises also recognize that the current market demand decline is also an opportunity for the industry to achieve transformation and upgrading and strategic transfer. It is necessary to focus on adjusting development strategies, restructuring internal resources, and recommending that the government reduce taxes, improve the business environment, and support enterprises. Going out and other policies have been introduced to help enterprises achieve transformation and upgrading.