China’s manufacturing PMI has continued to rise, reaching 49.8 in September. According to the National Statistics Bureau of China, overall economic output has also accelerated slightly.
According to data released by CAAM (the China Association of Automobile Manufacturers), automobile production and sales in August maintained year-over-year growth of more than 10%, indicating that China’s overall macroeconomic conditions continue to improve. Automobile production and sales reached 2.81 million units and 2.86 million units, respectively, representing month-over-month increases of 8.7% and 10.1% and year-over-year increases of 13% and 16.4%. Electric vehicle production and sales reached 1.39 million units and 1.4 million units, respectively, representing month-over-month increases of 11.9% and 10.5%, and year-over-year increases of 27.4% and 26.8%. Overall, EVs accounted for 48.8% of total new vehicle sales.
According to the China Machine Tool and Tools Builders’ Association (CMTBA), the total import and export value of machine tool products reached $19.11 billion, marking a year-over-year increase of 5.7%. Imports amounted to $5.93 billion, up 0.6%, while exports totaled $13.18 billion, an increase of 8.1%. For metal-cutting machine tools, the import value was $2.77 billion, up 0.9%, while exports were valued at $3.52 billion, a significant 14% increase. Imports of metal-forming machine tools totaled $370 million, while exports in this category increased by 34.5% to $1.88 billion.
A few recently announced projects and investment news items are listed below:
Guangde Jinrui Bearings Co. is investing $40 million to expand a ball-screw production plant for automotive steering devices, including purchasing equipment such as cleaning machines, cold rolling machines, thread grinding machines, and polishing machines.
LPR (Yantai) Automotive Components Co. is constructing a new $55 million facility for the production of automotive braking systems and procuring inspection devices, turning machines, and vertical machining centers.
SAIC Volkswagen Co. has invested an additional $360 million in its Ningbo subsidiary to build two new EV production lines.
BMW Brilliance Automotive Ltd., a joint venture between BMW Group and Brilliance Auto Group, will build a $112.5 million production line for its new sixth-generation power battery energy-control system.
BeBest (Zhejiang) Automotive Electronics Co. is investing $70 million in a new production project that intends to produce 1 million suspension system units and 150,000 electric redundant steering device units.
Anhui Longxin E-Drive Sci & Tech Co. will construct a new $77 million production line for stamping, stator assembly, motor assembly, and powertrain assembly for its electric vehicles. The production lines will include measurement and inspection devices.
Tianrun Industrial Technologies Co. will invest $29 million in an unmanned engine plant to produce core engine components, with an annual capacity of 100,000 crankshafts and 300,000 connecting rods.
Jiangsu Siwei Industry & Development Co. Ltd. (Windrose Technology) will construct multiple facilities and production lines valued at approximately $278 million. The first phase is expected to produce approximately 1,700 units of electric heavy-duty trucks annually, while the second phase targets a yearly production of over 7,000 units.
For more information, please contact Fred Qian at fredqian@AMTchina.org, and to learn how to take advantage of these opportunities, click here.
