China's machinery industry to maintain steady growth in 2022

BEIJING, Feb. 26 (Xinhua) -- China's machinery industry is expected to achieve steady growth this year, Chen Bin, vice president of the China Machinery Industry Federation, has said.

In 2022, the sector's operating revenues and industrial value added are expected to grow 5.5 percent year on year, Chen added.

In the face of COVID-19, chip shortages and other challenges, the machinery industry maintained steady expansion last year, with strategic emerging subsectors reporting an 18.58-percent increase in business revenues.

Tight energy supply and chip shortages will be eased this year, creating a sound operating environment for the machinery industry, Chen said.