China is looking to triple the sales revenue of its high-end equipment manufacturing industry to 6 trillion yuan by 2015. The boom in the sector was attributed to China’s fast-growing industrial economy, which has had the top position worldwide since 2009.
China’s equipment manufacturing industry is big, but not yet strong. China’s mechanical industry, the main part of the equipment manufacturing industry, is the world’s largest, having a main business income of 16.48 trillion yuan in 2011. But the country still faced a total trade deficit of more than $100 billion with Japan and Germany. It reflected the huge gap between China and the world’s leading high-end equipment manufacturers.
The industry mainly includes aviation equipment, satellite and applications, railway transportation equipment, marine engineering equipment, and smart manufacturing equipment.