China’s machinery industry last year showed a slow but steady recovery from a previous plunge in the sector, as the upgrading of products and industrial structure advanced in 2013. The sector’s revenues from its main business totaled CNY20.4 trillion last year, up 13.8% year-on-year and growing slightly faster than in 2012. Aggregate profits across the sector rose 15.6% year-on-year to CNY1.41 trillion, over 10 percentage points higher than in 2012. The sector exported products worth USD372.5 billion in 2013, up 6.24% from the previous year, with the trade surplus at USD73.6 billion – the largest on record. China’s private machinery enterprises began to focus more on the overseas market as domestic demand dwindled. In 2013, private companies’ total profits earned from their main business jumped 15.4% to CNY11.6 trillion, above the cross-sector growth rate. Their output in value accounted for over half of the total industrial output of the sector.