China manufacturing news updates

1. The market size of Chinese medical device industry is expected to exceed 900 billion RMB in 2022

According to the data from iiMedia Research, the overall market size of the Chinese medical device market has grown from 255.6 billion RMB in 2014 to 530.4 billion RMB in 2018, with a year-on-year growth of 20%. Its operating income and net profit have maintained rapid growth, which is in the golden stage of the development of the medical device industry. (Source from iiMedia Research)

2. In the first 10 months of 2019, the total profits of industrial enterprises above designated size reached 5 trillion RMB

According to the National Bureau of Statistics, out of 41 industrial sectors, from January to October 2019, the total profit of 30 industries increased year-on-year, and 11 industries decreased. Among them, the total profit of the power, heat production and supply industry increased by 16.2% year-on-year, electrical machinery and equipment manufacturing industry increased by 15.0%, special equipment manufacturing industry increased by 12.0%, computer, communications, and other electronic equipment manufacturing industry increased by 6.0%, and automobile manufacturing downed 14.7%. (Source from the National Bureau of Statistics)

3. Yawei Machine-Tool Co., Ltd kicks off the project of Intelligent Robot

As the national key research and development plan released by the Ministry of Science and Technology, the launch meeting for the project of intelligent robot -- special sheet metal manufacturing robot automated production line integration system was successfully held in Jiangsu Yawei Machine Tool Co., Ltd. The project was led by Yawei, and supported by the Ministry of Science and Technology in June this year. It is scheduled to be completed in May 2022. This project mainly develops highly flexible sheet metal processing and manufacturing robot systems and intelligent production lines to achieve automatic tool change, automatic mold replacement, and other functions.

4. Investment in Guangdong's industrial technology reform has exceeded the annual target. The proportion of investment in high-tech and advanced manufacturing continues to increase.

Recently, the Guangdong Provincial Conference on Promoting the Development of Manufacturing Quality was held in Guangzhou. The core competitiveness of Guangdong's manufacturing industry lies in innovation, and it continues to move towards the mid-to-high end of the global manufacturing industry chain. The data shows that the proportion of Guangdong's high-tech manufacturing and advanced manufacturing continues to increase, for example, the proportion of industrial value-added of high-tech manufacturing industries above designated size was increased from 24.1% in 2012 to 31.5% in 2018, and the proportion of industrial value-added of advanced manufacturing industries above designated size was increased from 48.1% in 2012 to 56.4% in 2018. (Source from ACMTC)

5.China's SOEs post steady profit growth in first 10 months

                                                                       Employees from a subsidiary of China Shipbuilding Industry Corp install clean-energy equipment in Nantong, Jiangsu province. [Photo/Xinhua]

Profits of Chinese state-owned enterprises (SOEs) grew steadily in the first 10 months of 2019, official data showed. The combined profits of China's SOEs rose 5.4 percent year on year to 2.94 trillion yuan (about $418 billion) for the January-October period, the Ministry of Finance said on its website.The pace edged down from the 6.6-percent increase in the first nine months.The centrally-administered SOEs generated a combined profit of 1.94 trillion yuan, up 7.5 percent year on year.Total revenues of the SOEs reached 50.13 trillion yuan during the period, up 6.5 percent from a year earlier.The debt-to-asset ratio of the SOEs stood at 64.3 percent by the end of October, unchanged from the same period last year, according to the ministry. (Source from: China Daily)