China's machine tool industry enters a new development cycle

China Machine Tool Industry Association recently announced in Shanghai that in 2017, China's metal processing machine tool market sales amounted to 29.9 billion US dollars, an increase of 7.5% over the previous year.
Mao Yufeng, executive vice chairman of China Machine Tool Industry Association, believes that machine tools are one of the core industries of equipment manufacturing and play an important leverage role in the global allocation of manufacturing resources. In 2017, China's machine tool sales showed a significant recovery, indicating that under the promotion of structural upgrading, China's machine tool industry is entering a new development cycle of moderate growth, creating new opportunities for domestic and foreign machine tool manufacturers.
According to the statistics of China Machine Tool Industry Association, China realized export of 3.29 billion US dollars and import of 8.74 billion US dollars in 2017, which increased by 11.4% and 16.3% respectively, and the trade deficit reached 5.45 billion US dollars, a substantial increase of 33.5%. This shows that with the accelerated pace of structural upgrading of China's manufacturing industry, the demand for foreign advanced machine tools has grown strongly.
In the field of tools and measuring tools, China's total sales in 2017 reached 4.82 billion US dollars, an increase of 20.2% over the previous year. From the point of view of import and export situation, China's export of measuring tools and measuring tools is 2.79 billion US dollars, and import of 1.81 billion US dollars, up by 8.1% and 21.5% respectively, compared with 2016, up by 8.9 and 22.1 percentage points respectively. The characteristic of restorative growth is more obvious, especially the import of medium and high-end measuring tools has increased significantly.
Wang Liming, secretary-general of China Machine Tool Industry Association, believes that with the deepening of a new round of industrial revolution led by information interconnection worldwide, manufacturing industry is experiencing the evolution from automation and digital manufacturing to collaborative and intelligent manufacturing, and the global machine tool industry is facing profound changes. Nowadays, the machine tool industry is focusing on digitization, automation, interconnection and interconnection, large information data and other key directions to promote and achieve intelligent manufacturing.
From April 9 to 13 this year, the China Machine Tool Industry Association will host the 10th China CNC Machine Tool Exhibition in Shanghai. The total area of the exhibition is 120,000 square meters. Up to now, more than 1200 manufacturers of machine tools and tools from 23 countries and regions have signed up for the exhibition. Over 500 overseas exhibitors, accounting for 40% of the total area, have increased nearly 5 percentage points compared with the previous exhibition. This shows that overseas enterprises are concerned about the Chinese market. Participation is further enhanced.