国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

Going gets tougher for China's machinery makers

By Du Juan (China Daily) Updated: 2015-02-27 07:10

Going gets tougher for China's machinery makers

Excavators made by the Chinese machinery maker XCMG Group are ready to be shipped to Port Vitoria in Brazil. [Wang Chun/For China Daily]

China's machinery manufacturers are planning to increase exports as a slowing domestic economy crimps demand at home, industry experts said.

At the same time, some companies are also aggressively expanding their overseas presence with mergers and acquisitions, they said. According to data provided by the China Machinery Industry Federation, the machinery sector reported a record trade surplus of $79.1 billion in 2014.

Private machinery companies were the mainstay of the exports from China, shipping products worth $148.9 billion to foreign markets in 2014, a year-on-year growth of 14.35 percent, according to the federation. Exports by State-owned companies stood at about $47.7 billion during the same period. Exports by joint ventures in China took about half share of the total exports.

Total exports by the industry stood at $402.3 billion in 2014, up 8 percent, while imports rose 8.2 percent to $323.2 billion.

Cai Weici, a senior adviser at the federation, said private companies have better incentive for tapping the overseas market and despite the weak domestic market, have managed to fare well.

Private machinery companies recorded total revenue of 12.7 trillion yuan ($2.03 trillion) last year, accounting for 57.3 percent of the total industry revenue.

"Given the severe overcapacity in the domestic machinery market, boosting exports is the logical long-term choice for companies," Cai said. "It also demonstrates that China's equipment products are becoming competitive in the global market."

While domestic companies are looking at overseas markets, some foreign companies have adopted a dual-brand strategy, which has helped them to be more localized in China.

Martin Weissburg, president of Volvo CE, said the "going global" strategy is not a new trend for the company as SDLG products have already been exported to global markets through Volvo CE's global marketing network for several years.

Cai said Chinese companies have performed better under the dual-brand strategy, which is a good option for growth.

Hot Topics

Editor's Picks
...
彭州市| 云和县| 通辽市| 正定县| 汉阴县| 汝南县| 牡丹江市| 岫岩| 威海市| 娱乐| 咸丰县| 辛集市| 潮安县| 涞源县| 建始县| 伊宁县| 永安市| 丹棱县| 南开区| 天台县| 永福县| 石嘴山市| 溧水县| 华容县| 南木林县| 武平县| 平舆县| 马关县| 柯坪县| 鄂托克前旗| 富川| 北票市| 新沂市| 莒南县| 南澳县| 永川市| 丹巴县| 富源县| 石阡县| 金川县| 安仁县|