China's machine tool consumption is now growing strongly, and German manufacturers are organizing a group to return to China
Although the Chinese market was hit hard by the COVID-19, it has recovered rapidly. It is expected that China's industrial production and capital investment will increase by more than 5% respectively in 2021, and the consumption of machine tools may achieve a strong growth of 10%. "Germany is the second largest supplier in China's machine tool industry after Japan, and its position in the high-tech field. Its technology is widely used in various customer fields in China, such as automobile, aerospace, mechanical engineering, power generation and other broad-based machine tool users." At the 17th China International Machine Tool Exhibition (cimt2021), Shane sun from Germany machine tool manufacturers association (VDW) in Frankfurt explained.
On April 12, at the press conference of cimt2021 of German machine tool manufacturers association, Wilfried Sch, managing director of VDW, Frankfurt? Dr fer said: "due to the impact of the COVID-19, the exit is restricted. German manufacturers will mainly be exhibited by their subsidiaries in China.".