The total profit of China's machinery industry in the first six months this year stood at 86.36 billion yuan (about 10.6 billion US dollars), decreasing 9.05 percent year on year, said Vice President Cai Weici of China Federation of Machinery Industry in Beijing on Tuesday.

The quick slip of the machinery industry's profit is beyond expectation, said Cai at a press conference, attributing this to the price hike of raw materials, fuels and transport services as well as the price slump of some machinery products.

The profit of China's auto industry plunged by 20.6 billion yuan (2.54 billion US dollars), which was a major reason for the profit downslide of the machinery industry, Cai said.

During the period, 21.93 percent of all machinery manufacturers witnessed deficit, with a total loss of 15.09 billion yuan, up 39.76 percent year on year, figures show.

In contrast to the profit plunge, the foreign trade of machinery goods still grew 14.19 percent year on year to 102.41 billion US dollars in the first half of this year.

The added value of this industry reached 497.96 billion yuan, up 17.78 percent.

Source: Xinhua