China's construction machinery industry profits have dropped significantly

In order to analyze the economic situation of the machinery industry, a few days ago, the Industry Coordination Department organized a symposium on the economic situation of the construction machinery industry. The China Construction Machinery Industry Association and key industry enterprises attended the meeting. Associations and enterprises generally reflected that due to the current macroeconomic situation and the relatively high base of the same period of last year, the production and sales of main products of construction machinery declined sharply from January to May this year, and operating costs increased, financial costs surged, and profits declined significantly. Business difficulties are outstanding. In view of the current situation, the associations and enterprises hope to implement the relevant policies that the country has already issued, and propose to continue introducing structural tax reductions, technological transformations, technological research and development, and supporting enterprises to “go global” policy recommendations, and guide the transformation and upgrading of enterprises.