China Machine Tools Industry Expected to Post Some 30% Growth in 2007

Resource from: CBCC Likes:2916

Dec 27,2007

China Machine Tools Industry Expected to Post Some 30% Growth in 2007 During a conference held in China's Chongging New North Zone on December 7, Yang Xuetong, Vice President of China Machinery Industry Federation(CIMF), reported that the country's machine tools industry was enjoying good progress. Mr Yang, refering to the figures provided by the National Bureau of Statistics of China, said the projected total output volume of the machine tool industry in China would exceed RMB260 billion for the whole year 2007, a 30~35% increase year on year. Output of CNC metal processing machine tools would amount to approximately 120,000 units, while that of metalcutting machine tools would be close to 500,000 units, representing a year on year 15% increase. For metalforming machine tools, it will exceed 150,000 units, representing a year on year increase of 20%. According to Mr Yang, China's high-end CNC machine tools and complete processing lines were in great demand, representing an ever prosperous market situation. The number of manufacturing enterprises was growing rapidly, but the scale of enterprises and the technical standards and quality of their products varied greatly. Furthermore, there is a high degree of reliance on import with respect to high-end processing equipment.

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