Machine Tool Industry Situation in China
According to the recent news on China Metal Cutting Tool Engineering Association’s website (www.ccta.net.cn), in 2007, China’s machinery industry production value is 6000 billion RMB (about 850 billion USD), in which machine tool industry production value is 260 billion RMB (about 36.8 billion USD) and is 30%–35% higher than in 2006.
The article said that, China’s machine tool industry has made big progress from the late 1990s; China’s machine tool industry has not completely adapted to market competitions; China’s machine tool industry has got lots of concerns coming from many grades of government and plenty of companies.
The article also said that, the total value of market demands of machine tool products in China in 2007 is about 200 billion RMB (about 28.3 billion USD), and China’s own machine tool industry can provide about 70%. In the high end product market, however, China’s own machine tool industry can only provide about 30%, and the 70% relies on foreign products.
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