Equipment manufacturing industry

With the development of new industries and new economy, the equipment manufacturing industry in Zhejiang keeps growing rapidly.

In the first five months of 2017, the added value of the equipment manufacturing industry rose by 13.4 percent year-on-year, totaling 231.7 billion yuan ($34.94 billion).

The growth rate of the added value of the equipment manufacturing industry from March to May was 13.1 percent, 13.4 percent, 13.5 percent, increasing month by month. 

Scientific innovation has helped production grow. The output value of new products in Zhejiang's equipment manufacturing industry was 511.1 billion yuan, increasing by 23.3 percent, accounting for 63.2 percent of the whole output value.

From January to April, the total profit of equipment manufacturing enterprises was 55 billion yuan, a growth rate of 28.7 percent. The revenue profit margin of the main business was 7.1 percent.