China World's No. 1 Purchaser of Lathes, Imports

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Last updated at: (Beijing Time) Wednesday, March 26, 2003

China World's No. 1 Purchaser of Lathes, Imports

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China's dynamic economy and growing fixed asset investment were the driving forces behind last year's 5.5 billion US dollar purchase of machine tools, making the country the world's largest machine tool consumer.

In 2002, the country's output of machine tools and tool imports both approached 3 billion US dollars, making China the world's largest tool importer, according to China Machine Tools and Tool-Builders' Association Tuesday.

The purchase of machine tools is expected to reach 7 billion US dollars in 2005, and annual tool imports will exceed 3.5 billion US dollars.

China's robust machine tool consumption has attracted the attention of tool makers around the world. A total of 26 major producers of machine tools, including the United States, Germany, Japan and Switzerland, have registered to attend the 8th China International Machine Tool Exhibition which will be held from April 16 through 22 in Beijing, the organizing committee of the exhibition said.

The total number of enterprises registered to take part in the event has reached a record high of 1,200, and more are expected toregister, according to the committee.

The exhibition is one of four reputable international machine manufacturing fairs among an estimated 100 such fairs worldwide. The other three exhibitions are held respectively in the United States, Japan and Europe.

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