China's machinery industry's added value in January-October up 5.5% year-on-year: Chinese report

According to the China Machinery Industry Federation, the added value of the machinery industry in the first 10 months of this year increased by 5.5% compared to the same period last year, showing stable growth.
In terms of production and sales, the Association conducted intensive monitoring of 122 types of machinery products,
The production volume of 72 types of products increased. The overall increase in product production volume was better than the previous year's level. In terms of investment, the domestic economic activities of China saw an increase in general-purpose equipment, special-purpose equipment, and automobile industry.
Both world fixed asset investment and foreign trade grew steadily, maintaining the positive trend of the previous year.
This year, the machinery industry has been promoting digitalization, smartification and greening.
The penetration of digitalization has increased significantly in traditional industries and small and medium-sized enterprises. Smart technologies have significantly improved the production efficiency of products.