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 DEVELOPMENT OF CHINA'S INDUSTRY |
| In 2007, the production and operation of China¡¯s machinery industry continued to maintain strong growth. Among them, the output of 66% products exceeded the annual level of machinery industry over 2006, and the growth rate in production and sales both maintained above 31%. |
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| STATUS OF FOREIGN INVESTMENT |
| 2006 was the year of merging and acquisition. The foreign capital started to merge and purchase Chinese construction machinery corporations in large scale by Carlyle Group hosting XUGONG Science & Technology Co, Ltd. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| In line with commitments, with respect to tariffs, the average tariff rate for industrial products in 2002 declined to 11.7% and that for mechanical products declined to 9.6%. With respect to non-tariffs, all quotas and other measures of quantitative restrictions for mechanical products will have been eliminated by 2005. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| As the latest data from German mechanical equipment manufacturing association shows, the total production value of mechanical equipment manufacturing in 2006 is up to 158.4 billion euros with 7.4% annual growth, hitting the biggest growth increment since the 60s in last century, and the sale totals up 167 billion euros. |
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