The China Machine Tool and Tools Builders’ Association (CMTBA) released a newsletter based on China’s customs’ data, finding that the total import and export of machine tools from January to July was $18.11 billion, a decrease of 2.6% compared to the previous year. Specifically, imports amounted to $5.91 billion, marking a 9.8% decrease year over year, while exports totaled $12.2 billion, a 1.4% increase year over year.
The China Construction Machinery Association (CCMA) also reported that the import and export of China's construction machinery amounted to $4.655 billion in August 2024, reflecting a 9.02% increase year over year. This includes an import value of $224 million, up 5.54% year over year, and an export value of $4.43 billion, up 9.20% year over year. From January to August 2024, import and export volume of China's construction machinery amounted to $36.4 billion, a 4.55% increase year over year. Imports totaled $1.75 billion, down 0.14% year over year, while exports reached $34.65 billion, up 4.8% year over year. The sales data for construction machinery in domestic and international markets indicate positive trends for this sector.
Furthermore, the Chinese government launched a development action plan in August to accelerate a comprehensive green transformation. Initiatives include promoting new energy vehicles and developing non-fossil energy sources such as wind, photovoltaic, nuclear, and hydro. Significant investments are expected over the next five years, with non-fossil energy alone receiving over $66 billion from January to August, creating substantial opportunities for manufacturing sectors of related equipment.
A few recently announced projects and investment news items are listed below.
Saiteng Precision Electronics will invest $385 million to purchase CNC machining equipment and welding robots for semiconductor, new energy, and consumer electronics production.
Jiangsu Tianneng Marine Heavy Industry will invest $54 million to expand production of key components of off-shore wind power generators.
Baoji Golden Rabbit Seiko Technology will invest $69 million for R&D and manufacturing oil and gas machinery.
Ningguo Sunny Tech Precision Aluminum Products will invest $108 million to build new facilities and ancillaries, with an annual production capacity of 20 million kits of EV components.
Shandong Woda Heavy-Duty Machine Tools will invest $83 million to purchase large CNC equipment to build a production line for precision servo press machines, high-speed stamping machines, and powder metallurgy machines.
Huzhou Nanyang Electric Motor will invest $146 million in motor production, with an annual capacity of 16 million variable frequency motor units and 600,000 EV driving motor units.
Everwin Precision Technology (Zigong) will invest $98 million to build five extrusion aluminum production lines for EVs.
Jiangsu Liyan Technology will invest $138 million to purchase press machines, CNC turning machines, and heat treatment equipment for production of automotive components.
Dana (Wuxi) Technology will invest $151 million to produce automotive components with an annual output of 6.76 million units of heat exchangers, 9 million pieces of cylinder and transmission sealing pads, and 600,000 pieces of exhaust sealing pads.
For more information, please contact Fred Qian at fredqian@AMTchina.org
