The equipment industry in Henan Province, one of the six highly-growing industries, maintains steady growth under the situation of a rapid slowdown of demand at home and abroad, and the intensify industry competition in the third quarter of 2012. In the mean time, the development equipment industry is also facing problems of insufficient effective demand, high financial costs, fierce industry competition, lack of R&D capacity, the pressure in transformation and upgrading, ect. Looking into the future, the development of the equipment industry in Henan Province face with unfavorable factors, great opportunities, and greater development space as well. The government should continue to play a guiding role in accelerating the transformation and upgrading of the equipment industry, and promoting stable and rapid growth of the industry in accordance with the direction of industrial upgrading. <<