Date: 2013-07-31

China's Gross Value for Machine Tool Industry Set to Reach RMB200 Billion in 2007

China's Gross Value for Machine Tool Industry Set to Reach RMB200 Billion in 2007

Following a strong market demand, the Chinese machine tool industry is running at a fast pace.

With reference to information given out in a recent committee meeting of China Machine Tool & Tool Builders' Association (CMTBA), local media reports that in the first eight months of the year, the industry registered a gross industrial value of RMB167.03 billion, an increase of 33.3% from a year ago. Sales income was RMB160.18 billion, up 34.7% year-on-year.

In this occasion, President and CEO of CMTBA, Wu Bailin, also revealed the Chinese machine tool industry has becoming more innovative now, in addition to a rise in the proportion that CNC
machine tools occupy in the gross value for the machine tool industry.

Experts expect that for the whole year 2007, the gross value for the Chinese machine tool industry will reach RMB200 billion, together with a CNC machine tool output of more than 100,000 units.

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