According to a report released by the China Machine Tool Industry Association, although China's machine tool industry continued to grow steadily last year, the growth rate slowed down in the second half of the year, especially at the end of the year, when the single-month increase was single digit. The impact of the financial crisis on China's machine tool industry is becoming more and more obvious.
According to the report, in 2008, 4,832 enterprises completed a total industrial output value of 347.23 billion yuan, a year-on-year increase of 27.5%, an increase of 8 percentage points lower than the same period of last year; the sales value of machine tool industry products was 334.83 billion yuan, an increase of 26.0% over the same period last year. It is 10.2 percentage points lower.
The report pointed out that both the monthly data of the whole industry and the survey of some key enterprises by the association show that the financial crisis has an impact on the industry faster and deeper. The total output value of the first quarter of the whole industry increased by 36.6% year-on-year, and the year-on-year growth rate in the fourth quarter has been greatly reduced. In December, the total industrial output value was 32.02 billion yuan, a year-on-year increase of only 7.9%; the completed sales value was 30.53 billion yuan, a year-on-year increase of only 2.3%. The gold cutting machine tool industry completed industrial output value of 8.66 billion yuan in December, down 13.7% year-on-year; completed sales value of 7.76 billion yuan, down 23.8% year-on-year.
Wu Bolin, the director general of the China Machine Tool Industry Association, said that despite the impact of the financial crisis on the machine tool industry, the development of the machine tool industry in the next two years is full of opportunities. The country has accelerated the launch of several industry revitalization plans and key projects. Special attention should be paid to industrial restructuring structures and industrial revitalization plans for automobiles, ships, and steel. In addition, electric power and clean energy, transportation, defense and military, aerospace, oil and gas exploration and transportation, engineering machinery, agricultural machinery and other industries import a large number of machine tools every year, machine tool enterprises should develop imported substitute products to meet user needs.
Wu Bolin also revealed that the 11th China International Machine Tool Exhibition CIMT2009, hosted by the association, will be held at the New China International Exhibition Center in Beijing from April 6th to 11th. Despite the growing impact of the financial crisis on the machine tool industry, the scale of the exhibition will still be a record.
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