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International News From the Field: China

Are there signs of light at end of China’s economic tunnel? Manufacturing indexes bounce, risks remain, and new government measures boost economic growth. For more industry intel and other tidbits, read on.
Apr 12, 2024

In early March, the China National Bureau of Statistics released a report stating that the manufacturing Purchasing Managers’ Index (PMI) was 49.1% in February, a decrease of 0.1% from the previous month. This is mainly due to the off-season of traditional production caused by the Spring Festival holiday. The report also noted that large enterprises had a PMI of 50.4%, while medium-sized enterprises had a PMI of 49.1% and small enterprises had a PMI of 46.4%, all of which are below the tipping point except for large enterprises.[cp1]

Meanwhile, the China National Development and Reform Commission has launched a large-scale equipment renewal and consumer goods trade-in action program. The program is estimated to have a yearly market worth approximately $690 billion, and it primarily benefits manufacturing industries and technological upgrading. These industries include automotive, appliance, communications, consumer electronics, and medical.

The China CNC Machine Tool Fair 2024, sponsored by CMTBA, will be held from April 8 to 12 at the Shanghai New International Expo Centre in Pudong, Shanghai. The event will feature 17 halls and 200,000 square meters of show space, and there will be nearly 2,000 exhibitors from 28 countries and regions. The AMT/USA pavilion will comprise 13 member companies, an AMT info booth, and a demo of MTConnect. The theme of the pavilion will be “Implementing Digitalization to Accelerate Manufacturing.”

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

  • Hangzhou Semiconductor Wafer Co. will invest $795 million to produce 12-inch wafers with an annual output of 3.6 million parts.

  • Hubei Three-Ring Forging will invest $49 million to manufacture steering knuckles for new EVs with an annual output of 5 million parts.

  • Creator Solutions (Suzhou) will invest $26.8 million to produce pipe parts and pipe systems for vehicles.

  • Huzhou Xingchan Sany Manufacturing will invest $1.095 billion to manufacture aerial working machinery with an annual capacity of 150,000 units.

  • Dongguan Tengxin Precision Manufacturing will invest $225.8 million to build the production capacity. Plans are to purchase 540 new CNC machines.

  • Diyuan Molds (GAC Group) will invest $139 million to build a digital manufacturing facility for automotive components.

  • Scania Manufacturing will invest $328 million to build production capacity to achieve an annual output of 50,000 units.

  • Tianshun Wind Energy will invest $178 million to produce heavy-duty off-shore wind power equipment.

  • Guangdong Haisi Equipment will invest $13.79 million in the production of CNC machine tools with an annual output of 3,000 units.

  • Funan Huahang Mechanical Manufacturing will invest $22 million to produce motorcycle components with an annual output of 800,000 units. Automotive molds are also expected to be produced in this facility.

  • Huayang Additive Manufacturing Sci & Tech will invest $11 million to establish production capacity for printing metal AM parts with an annual output of 20,000 pieces in Yibin.

  • Goldenconn Electronic Technology will invest $14.25 million in precision connectors in Suzhou.

For more information, please contact Fred Qian at fredqian@amtchina.org

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Author
Fred Qian
General Manager - Shanghai Technology and Service Center of AMT
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