Chinese Foundry Machinery Industry Set to Soar Till 2010(2007-1-12)
February 12, 2007
Riding on the rapid development in the five years till 2005, China is set to see its foundry machinery industry grow further during the following five years starting from 2006, when China implements its Eleventh Five Year Plan.
China, having been the world's largest producer of castings since 2001, has been growing at an annual rate of around 10% in recent years. In 2005, its casting output reached 1.8 million tons, including about 2 million tons of nonferrous alloy castings. However, the quality of Chinese-made castings, overall speaking, lags behind international standards as a large proportion of them are either made by hand, or machine-made using backward machinery. This explains why 95% of foundries been tracked by the National Bureau of Statistics of China (NBS) are small and medium enterprises with annual production of less than RMB100 million.
Driven by Quality Pursuit
In pursuit of higher quality as well as higher efficiency, Chinese foundries have been turning to replace manual production with foundry machinery and this is driving the foundry machinery industry in China to grow fast. According to NBS statistics, the gross industrial output of the industry rose from RMB2.21 billion in 2001 to RMB6.41 billion in 2005, representing an annual increase of 30.5%. As well, revenues grew from RMB2.03 billion to RMB5.99 billion, representing an annual growth of 31.0%. Profits also surged, by 46.4% annually.
Furthermore, the Chinese foundry machinery industry has moved forward technically. While Chinese-made resin sand casting equipment has been sufficiently good to satisfy domestic requirements, more advanced automatic casting lines have been developed too.
Experts remark that Chinese foundry machinery makers have not been competing at the higher end of the market because of a lack in R&D capabilities. Hence foreign products flood in, making the value of imports of foundry machinery rise rapidly. It is estimated that imports of die-casting machinery in 2006 would be more than US$300 million, a rise of above 20% from 2005.
In addition, some foreign machine builders like Toshiba Machine Co Ltd from Japan, and L.K. Group from Hong Kong, have set up factories for producing and selling die-casting machinery in China.
Nevertheless, the keen competition in the Chinese market has not kept the Chinese foundry machinery industry from growing. Statistics show that in the first nine months of 2006, the gross industrial output and revenues of the industry both rose by more than 50%.
In view of increasing demand for middle- to high-end foundry machinery and high-range casting lines in the automobile, machinery, electrical and light industrial industries, the Foundry Institution of Chinese Mechanical Engineering Society (FICMES) forecasts that the Chinese foundry machinery industry will grow by more than 15% on average during the Eleventh Five Year Plan period [Machine.2456 News].These are only a few, there is whole host of replica handbags uk that are available and can easily ship them for you at very nominal rates, as per order. You can experience the art through the breitling replica line which includes t-shirts, hoodies, outerwear and much more.