Xinhua News Agency, Beijing, May 5 —— Li Xingqian, Director of the Department of Foreign Trade of the Ministry of Commerce, recently said that, in combination with China's export performance in the first quarter, three areas—complete equipment, intelligent products, and low-carbon and energy-saving products—have shown abundant innovative vitality and potential for sustained growth. China's export products are moving towards a development path characterized by specialization, refinement, uniqueness, and innovation.

China's mechanical parts industry has matured, with a certain level of technical capability and production capacity. The quality of the exported mechanical parts is stable and reliable, and has gained recognition and trust in the international market.

On February 14, 2025, the China Machinery Industry Federation held a press conference on the economic operation of the machinery industry in 2024. In 2024, the added value of large-scale machinery industry increased by 6.0% year-on-year, 0.2 percentage points higher than the national industry. The revenue-profit margin for the whole year was 5.2%, down by 0.5 percentage points compared to the previous year, and 0.2 percentage points lower than the national industry. In 2025, the main economic indicators of the machinery industry are expected to grow by around 5.5%, with foreign trade remaining basically stable.

On February 14, 2025, the China Machinery Industry Federation held a press conference in Beijing to release the economic operation report of the machinery industry for the whole year of 2024. Luo Junjie, Executive Vice President of the Federation, presented the report, which is published below for reference.

Mechanical spare parts are an indispensable part of many industrial and manufacturing supply chains. The export prospects and specific markets vary depending on factors such as technology, product quality, brand, and market positioning, but there is still potential for growth.