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China's Machine Tool Industry Enters New Development Cycle

China Machine Tool & Tool Industry Association announced in Shanghai recently that in 2017, the total sales of China's metal processing machine tools market reached USD 29.9 billion, an increase of 7.5% over the previous year.

    Mao Yufeng, executive vice chairman of the China Machine Tool Industry Association, believes that machine tools are one of the core industries of the equipment manufacturing industry and play an important role in the allocation of global manufacturing resources. In 2017, China's machine tool sales showed a significant recovery, indicating that under the structural upgrading, the Chinese machine tool industry is entering a new period of moderate growth, creating new opportunities for domestic and foreign machine tool manufacturers.

    According to statistics from the China Machine Tool Industry Association, in 2017, China exported 3.29 billion U.S. dollars of metal processing machine tools, and imported 8.74 billion U.S. dollars, up 11.4% and 16.3% year-on-year respectively; the trade deficit reached 5.45 billion U.S. dollars, a year-on-year increase of 33.5%. This shows that with the acceleration of structural upgrading of China's relevant manufacturing industries, the demand for foreign advanced machine tools has grown strongly.

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    In the field of tool gages, in 2017, China's total market sales reached US$4.82 billion, an increase of 20.2% over the previous year. From the perspective of imports and exports, China's tool gage exports were 2.79 billion U.S. dollars, and imports were 1.81 billion U.S. dollars, an increase of 8.1% and 21.5% year-on-year, respectively, which was 8.9 and 22.1 percentage points higher than 2016 respectively. The characteristics of recovery growth were even more pronounced. The significant increase in imports of high-end measuring tools is most prominent.

    Wang Liming, secretary of the China Machine Tool Industry Association, believes that with the deepening of the new round of industrial revolution led by information interconnection on a global scale, the manufacturing industry is experiencing an evolution from automation and digital manufacturing to collaboration and intelligent manufacturing. The global machine tool industry faces All-round profound changes. Nowadays, the machine tool industry is focusing on digital, automation, connection and interconnection, and information big data to conduct research and promote intelligent manufacturing.

    From April 9 to April 13 this year, China Machine Tool Industry Association will host the 10th China CNC Machine Tool Show in Shanghai. The exhibition has a total area of 120,000 square meters. Up till now, more than 1200 machine tool industry manufacturers from 23 countries and regions have registered to participate in the exhibition, of which more than 500 overseas exhibitors, the exhibition area of the total area 40%, an increase of nearly 5 percentage points from the previous session, shows that foreign companies' attention and participation in the Chinese market have further increased.

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Shandong Jining Qingfeng Machinery Hardware Co.,Ltd

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