According to the information on China Metal Cutting Tool Engineering Association’s site, at 2007, China’s machinery industry manufacturing value is 6000 billion RMB (roughly 850 billion USD), where machine tool industry manufacturing value is 260 billion RMB (roughly 36.8 billion USD) and will be 30% – 35% greater than in 2006.
Machine Tool Industry
The post said that, firstly, China’s machine tool industry has made enormous progress from the late 1990s; second, the sector hasn’t entirely adapted to advertise competitions; nonetheless, the sector has lots of worries coming from a number of grades of authorities (from central authorities to local authorities ) and various firms (from global ones into small ones).
The article also stated the entire buy machine tools value of marketplace needs of machine tool products in China in 2007 is roughly 200 billion RMB (roughly 28.3 billion USD), and China’s own business can offer about 70%. At the high-end merchandise marketplace, however, China’s own business can only supply about 30%, and the 70% depends on overseas goods.
As far as we understand, though with its present technology and manufacture degree, there’s still a specific space in order for it to walk to capture the world’s advanced level in the creation of high-end goods, the machine tool business in China has produced enormous progress from the past several decades. From the mainstream goods such as common cutting edge tools, various product quality levels, from the top grade to the minimal quality, have been shaped.
These different tier products are directed at different working conditions, and also have been in a position to nicely satisfy them. These products have a huge market share in China, and tons of them are exported abroad. We believe that, together with the rapid development of China’s economy along with the continuously improved requirements of overseas and domestic markets, the sector in China will advance continually and will meet the markets’ needs better and improved.