economic crisis china
economic crisis china
China Gas Compressor Manufacturing Industry Report 2009
Inflicted by global economic downturn in 2008, China gas compressor industry slowed down in development. In Q4 2008, monthly output dropped strikingly; in Dec 2008, national output of gas compressor just reached 1.755 million sets.
The government’s proactive fiscal policy and loose monetary policy in 2009 exert positive effect on the improvement of environment for companies’ operation; the prices of energy resources and raw materials are lower than those in 2008, and loan interest declined to a great extent. All of the above are in favor of alleviating pressure from the cost growth. In addition, the central government also launched RMB4 trillion economic stimulus package and ten industrials plans including petrochemical and metallurgy (downstream sectors of gas compressor industry) etc. All these measures will conduce to development of gas compressor industry.
China’s output of gas compressor rallied in 2009, and the output reached 9.114 million sets in September, up 22.2% compared to the same period of last year. It is forecasted that China gas compressor industry will enjoy bright outlook in next three years thanks to further development of such industries as petroleum, chemical, metallurgy, shipbuilding, environmental protection and clean energy etc.
The total import & export value of China gas compressor industry attained US$2.769 billion, up 31.58% year-on-year, of which export value was US$1.137 billion, up 19.4%; import value was US$1.631 billion, up 41.65%. The trade deficit stood at US$494 million. Influenced by economic crisis, China’s export of gas compressor will decline, but domestic demand will increase; therefore, key projects will need more supporting equipments, which will be favorable for the imports in the future.
As the leader in China gas compressor industry, Shanghai Hanbell Precise Machinery Co., Ltd’s operating revenue totaled RMB165.80 million in the first half of 2009, down 20.35% compared with the same period of 2008, and its net profit amounted to RMB19.55 million, down 27.30% compared with the same period of 2008.
Based on authoritative statistics from National Bureau of Statistics of China, General Administration of Customs of the People’s Republic of China and Machinery Industry Association etc, this report makes in-depth analysis on the status quo, industrial chain development, market competition and product import & export of China gas compressor industry during 2008 to 2009, and key companies. It also forecasts development trends of China gas compressor industry.
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Euronews TV says :”China is the chink of hope in the world economic crisis”. Is this racism?
If not what the devil is it?
No, it has to do with their expected economic performance.
Aaaah – “chink” joke – just spotted it.
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