South Korean media: China has surpassed Germany for the first time to become the world's largest machine tool exporter!

On February 21, South Korean media "Global Economy" published an article stating that China has surpassed Germany for the first time to become the world's largest machine tool exporter.

Data from the German Machine Tool Builders' Association (VDW) shows that last year China ranked first in the global machine tool export market, accounting for 21.6% of the total value of global machine tool exports.

This is the first time that China has ranked first in the global machine tool export market. Germany ranks second with a market share of 16.7%.

Last year, China's machine tool exports increased by 18%, while Germany's machine tool exports decreased by 10%.

The German Machine Tool Builders' Association explained: "In fact, it was just a matter of time for China to take the top spot. For the past 20 years, China's development speed has always been the most important topic in the industry. In order to reduce its dependence on imports, China has been developing its machine tool industry, and now Chinese products are rapidly flooding the world market."

Evaluations suggest that China has almost mastered the mid-to-low price machine tool market for automotive parts, home appliances, and general-purpose machining equipment. Additionally, machine tools related to battery charging, solar energy, and wind power industries are also areas of advantage for China.

However, according to assessments, China still lags behind Germany and Japan in high-end machine tool fields such as aerospace, semiconductors, and medical equipment.

Eastwind Securities pointed out in a report that "Chinese machine tools have considerable cost-effectiveness and competitive advantages in the mid-to-low price range, but their competitiveness in the high-end market is still weak. With the development of China's new energy vehicle and aerospace industries, there are examples of some machine tool manufacturing companies achieving innovation."

Original: toutiao.com/article/1857723014675780/

Statement: This article represents the personal views of the author.