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Business丨Key programs to boost machine tool makers

CHINADAILY · 公众号 · 时评 · 2025-03-20 11:55

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The expansion of the scope of large-scale equipment upgrades and consumer goods trade-in programs this year is expected to boost demand for machine tools, thanks to the rapid and effective implementation of the policies, the China Machine Tool and Tool Builders' Association said.

The rapid growth of sectors such as new energy vehicles, aerospace, shipbuilding, electrical appliances and artificial intelligence in China has also created new demand for the machine tool industry, according to the association.

"We are cautiously optimistic about the market demand for metal processing machine tools in China this year, and the overall operation of the machine tool industry is expected to be relatively stable," said Wang Xu, vice-chairman of the association.

▲ An employee works on a machine tool assembly line in Chongqing on Feb 22. Wang Quanchao/Xinhua

"In particular, demand for metal processing machine tools is foreseen to continue its slight growth trend, but the differentiation between enterprises will become more apparent. Abrasive and grinding tool industries will still experience a period of demand contraction and structural adjustment," Wang said.

With the technological progress of China's machine tool industry in recent years, its level of technology and quality stability has significantly improved. While exports have been increasing on a yearly basis, the pace of import substitution is also accelerating, the association said.

In particular, export growth has played an important supporting role in driving the overall growth of the sector. Last year, the overall export growth rate of the machine tool industry increased by 2.8 percentage points compared to the growth rate of the previous year, data from the association showed.

Specifically, exports of metal cutting, metal forming, woodworking machine tools, as well as cutting tools and measuring instruments grew. Exports of metal forming machine tools and woodworking machine tools recorded double-digit growth, the association said.

"China has deepened global partnerships to mitigate overseas business risks and consolidate trade ties in the past few years. Some of the sectors where Chinese companies are making substantive steps in going overseas include machinery and equipment, parts and components, robotics and automobiles," said Edward Tse, founder and CEO of Gao Feng Advisory Co, a strategy and management consulting firm with roots in China.

Business丨Key programs to boost machine tool makers

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