In order to create a market environment for domestically-made equipment to compete fairly with imported products, the Ministry of Finance issued a relevant notice on January 23, informing domestic equipment manufacturers for the development and manufacture of large-scale open-pit mining machinery and large-scale coal mining equipment. Import duties and import value-added tax paid for some key parts and raw materials imported will be refunded after collection. At the same time, the import tax exemption policy for the corresponding complete machines and complete sets of equipment will be suspended. To a certain extent, this policy can reduce the cost pressure of independent research and development of large-scale domestic equipment within a certain period of time, and mining machinery and coal machinery manufacturers will benefit from it.

UnionPay letter analysis:

Technical R&D strength determines future development potential

1. The development status of my country's industry

The machinery industry maintained a good momentum of rapid development in 2007. From January to August 2007, the machinery industry (except the automobile industry) achieved sales revenue of 5.514.6 billion yuan, a year-on-year increase of 30.4%; realized a profit of 320.2 billion yuan, a year-on-year increase 40.6%, higher than the average profit growth rate of 37% of industrial enterprises. Among them, the sales revenue growth rate of metal shipbuilding industry, engineering machinery, machine tool industry, railway accessories and other sub-sectors exceeded 35%, and the profit growth rate exceeded 50%. The profit growth of petrochemical and general equipment, heavy and mining machinery, and railway locomotive manufacturing industries also exceeded 40%.

The export growth rate is relatively fast. The total export value from January to October reached 1,679 billion yuan, a year-on-year increase of 29.5%. Among them, the export growth rate of construction machinery and metal ship manufacturing reached 93.7% and 49.9% respectively, and the growth rate of petrochemical general-purpose, heavy-duty mining, and machine tool industries exceeded 30%.

New products have made a greater contribution to the growth of total industrial output value. From January to October 2007, the output value of new products in the entire machinery industry increased by 34.8% year-on-year, surpassing the growth rate of total output value. New products accounted for 12.7% of total output value. Among them, new products in the construction machinery, railway locomotive manufacturing, metal ship manufacturing, aviation manufacturing, mechanical basic parts, heavy mining and machine tool industries have grown rapidly, exceeding 40%.

According to statistics from the Federation of Machinery Industry, from January to October 2007, the machinery industry achieved a total industrial output value of 5,846.098 billion yuan, a year-on-year increase of 31.91%; as of October 2007, the machinery industry had maintained a growth rate of over 18% for 58 consecutive months. The growth rate (the total output value of the machinery industry), the machinery industry has entered a rapid development cycle.