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On the afternoon of December 29, 2020, the expert committee of China Federation of machinery industry (hereinafter referred to as "the expert committee") held a meeting to review the annual economic operation of machinery industry and forecast the economic operation in 2021. Cai Weici, deputy director of Expert Committee of China Federation of machinery and special consultant of China Federation of machinery, attended and presided over the meeting. Some experts, professional associations, Industry Development Department of China Federation of machinery, statistics and information department and other relevant departments attended the meeting.

The meeting reported the completion of the main economic indicators of the machinery industry from January to November 2020, reviewed and analyzed the economic operation and characteristics of the machinery industry and some sub industries, and predicted the economic operation situation of the whole year in 2021.

At the meeting, Guo Zhenyan, Li Jing, Hong Xieguo and Zhu Mingkai, members of the expert committee of the China Federation of machinery, respectively delivered speeches on the economic operation of the electrician, heavy machinery, agricultural machinery and instrumentation industries. Mao Yufeng, executive vice chairman of the China Machine Tool Industry Association, Zhang zonglie, vice chairman of the China General Machinery Industry Association, and Secretary General of the China Petroleum and petrochemical equipment industry association Zhang champion, Chen Shihua, Deputy Secretary General of China Automobile Industry Association, LV Ying, Deputy Secretary General of China Construction Machinery Industry Association, Li Weirong, Deputy Secretary General of China General Parts Industry Association, and Shen bin, project manager of China internal combustion engine industry association, delivered speeches on behalf of relevant industries. Experts attending the meeting discussed the current situation of the industry's economic operation and relevant countermeasures.

Statistics show that the growth rate of added value of machinery industry has picked up steadily, the production of main products has continued to pick up, the economic benefit index has continued to pick up, the export of machinery products has turned from negative to positive, and the recovery of industry investment is slow. From January to November, the growth rate of added value of machinery industry increased by 5.5% year-on-year, and the expected target at the beginning of the year has been completed ahead of schedule. Among the 52 industries mainly involved in the machinery industry, 41 have achieved year-on-year growth in added value. From January to November, among the 120 main products monitored by the machinery industry, 62 products increased in output, accounting for 51.7%, more than half; 58 products decreased in output, accounting for 58.3%. The economic benefit index continued to rise. From January to October, the accumulated operating revenue of machinery industry was 17.7 trillion yuan, an increase of 2.86% over the same period of last year; the accumulated total profit was 1.13 trillion yuan, an increase of 10.22% over the same period of last year; the profit margin of operating revenue was 6.41%. In 2020, the investment in fixed assets of the machinery industry will continue to decline. Although the decline has narrowed significantly since the third quarter, as of November, there are still three double-digit declines in the five major categories of national economy involved in the machinery industry.