Machine tools in China's main markets are industrial machinery and equipment, transportation equipment, primary metal products and electrical and electronic equipment. Among them, industrial machinery has become a large market for machine tools because it is widely used in various industrial fields. Due to the explosive development of China's auto industry, transportation equipment manufacturing has been the second largest market for machine tools in the past 10 years. High-end equipment manufacturing is listed as a strategic emerging industry, and will focus on fostering development in the future. Advanced machine tool manufacturing is an important part of high-end equipment manufacturing, so the industry can receive subsidies from central and local governments for research and development. Sales of high-end machine tools can also benefit from tariff policies, thereby increasing sales of local products.
According to industry estimates, the demand for machine tools in the Chinese market will increase by 14.2% in two years. This strong growth momentum will consolidate China's current status as a world machine tool consumer and producer. The supply and demand of the industry will benefit from the “Twelfth Five-Year Plan” formulated by the government, which will receive government support and promote independent innovation.
