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The China Machine Tool and Tools Builders’ Association (CMTBA) released a newsletter based on China’s customs’ data, finding that the total import and export of machine tools from January to July was $18.11 billion, a decrease of 2.6% compared to the previous year. Specifically, imports amounted to $5.91 billion, marking a 9.8% decrease year over year, while exports totaled $12.2 billion, a 1.4% increase year over year.

The China Construction Machinery Association (CCMA) also reported that the import and export of China's construction machinery amounted to $4.655 billion in August 2024, reflecting a 9.02% increase year over year. This includes an import value of $224 million, up 5.54% year over year, and an export value of $4.43 billion, up 9.20% year over year. From January to August 2024, import and export volume of China's construction machinery amounted to $36.4 billion, a 4.55% increase year over year. Imports totaled $1.75 billion, down 0.14% year over year, while exports reached $34.65 billion, up 4.8% year over year. The sales data for construction machinery in domestic and international markets indicate positive trends for this sector.

Furthermore, the Chinese government launched a development action plan in August to accelerate a comprehensive green transformation. Initiatives include promoting new energy vehicles and developing non-fossil energy sources such as wind, photovoltaic, nuclear, and hydro. Significant investments are expected over the next five years, with non-fossil energy alone receiving over $66 billion from January to August, creating substantial opportunities for manufacturing sectors of related equipment.

A few recently announced projects and investment news items are listed below.

• Saiteng Precision Electronics will invest $385 million to purchase CNC machining equipment and welding robots for semiconductor, new energy, and consumer electronics production.

• Jiangsu Tianneng Marine Heavy Industry will invest $54 million to expand production of key components of off-shore wind power generators.

• Baoji Golden Rabbit Seiko ¾ÅÉ«ÊÓƵ will invest $69 million for R&D and manufacturing oil and gas machinery.

• Ningguo Sunny Tech Precision Aluminum Products will invest $108 million to build new facilities and ancillaries, with an annual production capacity of 20 million kits of EV components.

• Shandong Woda Heavy-Duty Machine Tools will invest $83 million to purchase large CNC equipment to build a production line for precision servo press machines, high-speed stamping machines, and powder metallurgy machines.

• Huzhou Nanyang Electric Motor will invest $146 million in motor production, with an annual capacity of 16 million variable frequency motor units and 600,000 EV driving motor units.

• Everwin Precision ¾ÅÉ«ÊÓƵ (Zigong) will invest $98 million to build five extrusion aluminum production lines for EVs.

• Jiangsu Liyan ¾ÅÉ«ÊÓƵ will invest $138 million to purchase press machines, CNC turning machines, and heat treatment equipment for production of automotive components.

• Dana (Wuxi) ¾ÅÉ«ÊÓƵ will invest $151 million to produce automotive components with an annual output of 6.76 million units of heat exchangers, 9 million pieces of cylinder and transmission sealing pads, and 600,000 pieces of exhaust sealing pads.

For more information, please contact Fred Qian at fredqian@¾ÅÉ«ÊÓƵchina.org