China to boost volume and quality of NC machine tools

However, Geng Liangzhi, deputy chief with the Association, said though China's annual output of NC machine tools has reached 60,000 units, nearly 70 per cent are low-technology. Currently, almost all middle and high-level machine tools are imported from overseas markets, said Mr Geng. The deputy chief is urging domestic companies to produce advanced high-speed equipment and machine parts in the next five years, and to try to increase the share of China-made high-precision machine tools from the current 30 per cent to over 50 per cent by 2010. Also, by 2010, over 60 percent of parts used in China’s machine tools should be made by Chinese companies, while China-designed machine tools will satisfy 75 per cent of the China market, he said. According to Mr Geng, the total output of China's machine tool industry grew 25 percent year-on-year to 130 billion yuan ($16.25 billion) in 2005 and this year it will grow 15 per cent year-on-year to 150 billion yuan ($18.6 billion). China installed $10.9 billion worth of machine tools last year – making it top consumer - according to Gardner Publications’ annual industry survey.