China’s equipment industry has grown 8.2% annually over the past decade

(Yicai Global) Sep 28 — In the decade between 2012 and 2021, the added value of China’s equipment industry in China grew by 8.2 percent annually on average, according to the latest official figures.

Emerging industry players reported a combined operating profit of more than 20 trillion yuan ($2.77 trillion) last year, an increase of 18.6% from the previous year , according to Wang Weiming, director of the first department of equipment industry of the Ministry of Industry and Information Technology.

Machine tools that provide intelligent production equipment and parts are the core of the manufacturing industry, with their technical level determining the manufacturing capacity of countries and regions.

“The equipment manufacturing industry is in a critical period of transition to mid- and high-end, and its support for the economy and society is more prominent,” Wang told a conference. Press. “But there are also issues such as weak industrial foundations, risks of breaking industrial and supply chains, and improving the industrial development environment.”

For more than a decade, China has developed high-quality enterprises, Wang said, adding that the machine tool industry has a complete industrial system that serves as a strong support for manufacturing competitiveness. and ranks second in the world.

In the equipment industry, the market share of domestic machine tools has increased from less than 1% ten years ago to 32%, and that of digital cutting tools has increased from 10% to 45%.

The research and development, manufacturing and application of robotics are important indicators of a country’s level of science and technology innovation and high-end manufacturing. Over the past decade, China’s robotics industry has flourished.

The operating profit of the country’s robotics enterprises exceeded CNY 130 billion (USD 19 billion) last year, and the production of industrial robots reached 366,000 units, a 10-fold increase from 2015, making China is the world’s largest market for such robots, according to data from MIIT.

Ten years ago, China’s robotics market was dominated by foreign products, as domestic robots could only be supplied to foreign system integrators at the bottom of the value chain.

Publisher: Futura Costaglione

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