Farm machinery exports jump 30%
Updated: 2011-03-10 17:40
By Lu Chang (China Daily)
Exports of China's farm machinery amounted to US$6.57 billion last year, a growth of 29.99 percent year-on-year, according to the China National Association for Agricultural Machinery Industry.
Imports stood at $2.07 billion, an increase of 32.73 percent year-on-year.
The association said China's farm machinery sector did well last year, thanks to a government plan that subsidizes the purchase of farm machinery. A total of 15.5 billion yuan ($2.34 billion) of subsidies were handed out from January to October last year.
The industry registered an output of 283.81 billion yuan in 2010, an increase of 26.36 percent from a year earlier, and reaped an estimated profit of 15.5 billion yuan, a jump of 20 percent year-on-year.
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