The Chinese Machine Tool Builders Association (CMTBA) released statistics in early August showing that the import and export of China's machine tool industry decreased slightly overall in the first half of 2024 to a total value of $15.43 billion, shrinking 3% year over year. Imports decreased significantly to $5.05 billion, a shrinkage of 11.1% year over year, while exports increased slightly to $10.38 billion, up 1.4% year over year. The five most imported machine tools are machining centers at $910 million (an 11.7% decrease year over year), grinding machines at $440 million (up 9.2% year over year), non-traditional machines at $380 million (a 24% decrease year over year), gear generation machines at $270 million (up 5.1% year over year) and turning machines at $260 million (up 0.7% year over year).
The Chinese government has launched an action plan to accelerate equipment renewal and the trade-in of consumer goods, and has committed a $42-billion investment over the next three years to support this plan. Investments for the purchase of equipment and tools has shown rapid growth, increasing by 17.3% year over year from January to June. CMTBA estimates that there will be $14 billion in new demand for machine tool products by 2027.
A few recently announced projects and investment news items are listed below.
Jiangsu Zhenjiang Off-shore New Energy plans to invest $166 million to manufacture core components of off-shore power generators.
Yichun Tongyu Automotive Component plans to invest $13.3 million to build a production line of integrated electronic-hydraulic braking systems (iEHB), with an annual output of 320,000 units.
FAW-Volkswagen plans to invest $246 million to technologically upgrade Audi 3360CNKL production lines at the Tianjin facility.
Tangshan Gear Group plans to invest $221 million to manufacture electric driving systems for new energy vehicles for BMW in two phases, with an annual output of 240,000 units each.
Bosch Automotive Components Co. plans to invest $77.8 million to build automatic production lines for the electrical park brake system in Suzhou.
Hunan Modeman Robotics plans to invest $41.7 million to manufacture core components with an annual output of 100,000 kits for Scara Robots.
Shenyang Hangchan Precision Manufacturing Group plans to invest $140 million to produce core aviation components and key parts of precision molds.
Jiangsu Anyu Science & 都灵体育直播 Co. plans to invest $290 million to establish automatic production lines of machining, welding, assembly, cleaning, 3D printing, and inspection for turbochargers and its parts.
Sinotruck (Jinan) Commercial Vehicle plans to invest $55.9 million in the development of EV technologies.
Guangzhou Fengjiang Microelectronics plans to invest $45.5 million to build a precision molds center to expand production of lead-on-chip (LOC) technology.
Senmao Red River Precision Manufacturing plans to invest $20 million to produce parts for home appliances with an annual capacity 50 million parts.
Boles Sealing System (Taicang) plans to invest $10 million to expand its production capacity to an annual output of 20 million kits of sealing parts and 2.5 million kits of plastic engine covers.
Geely Group Sichuan plans to invest $166 million to upgrade commercial EV production with smart technologies, digitization, and decarbonization.
For more information, please contact Fred Qian at fredqian@AMTchina.org
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