China's bearing valve products grow rapidly in trade with Korea

China's bearing valve products grow rapidly in trade with Korea According to the Korea Machinery Industry Promotion Association, Korea’s import of machinery products imported from China in 2000 was 1.6 billion yuan, and in 2009 it reached 12.9 billion yuan, a surge of 8 times. The reason for this is mainly due to the price advantage of Chinese products and the increasing technical content and quality standards.

In 2009, South Korea imported US$3.3 billion in general machinery imports from China, of which five types of special industrial machinery, valves, pumps and compressors, processing machines, and bearings accounted for imports of general machinery imported from China. Of the 49.2%, it dominates the import of machinery to China. Parts with a wide range of demands such as valves and bearings are continuously expanding from China.

South Korea itself is a strong exporter of machinery products. With the world in recession, South Korea's machinery industry has consolidated its growth trend by expanding exports and invigorating the domestic demand market. According to the statistics of the United Nations, in 2007, the total trade volume of the Korean machinery industry reached US$235.2 billion, accounting for 2.9% of the total amount of the world. In Asia, it is the third largest trading country of machinery industry after China and Japan, especially in 2009. The amount of imports reached 28.7 billion U.S. dollars, making it the eighth largest exporter of general machinery industries in the world.

The Korean government attaches great importance to this basic industry that provides production equipment. One of the measures is to establish the KOMAF-Korea Machinery Show as an important part of the Korean government’s “measures to promote the development of the capital goods industry”. It has been exhibited and promoted since 1977. The most competitive domestic and foreign advanced technologies and excellent machinery contribute to improving the quality and competitiveness of machinery products in the international market. As the largest mechanical exhibition in Northeast Asia, KOMAF will usher in the 18th exhibition in 2011 and become the largest business platform for the mechanical products brought together by core customers at home and abroad in Northeast Asia.

Mr. Park Tan-soo, Managing Director of Korea Machinery Industry Promotion Association, sent an invitation to Chinese companies. He said: “With the Chinese government’s policy of encouraging enterprises to improve the technological competitiveness of their products through technological innovation, it is expected that Korea’s production of machinery products of various kinds in China in the future. Imports will continue to expand.” He also said: “In 2010, Korean production of mechanical products increased by 22% year-on-year, reaching US$ 293.3 billion. Exports increased by 33.6% to US$ 137.5 billion, and imports increased by 30.1%. Eighty-five billion U.S. dollars, which means that the industry is getting rid of the shadow of the financial crisis that broke out in 2008, equipment investment has maintained a good momentum, various economic indicators have improved, and both import and export have shown a good recovery trend.This economic situation is China. The advancement of mechanical products into South Korea provides a good economic environment. Through the KOMAF exhibition, establishing brand awareness is particularly important for those wishing to advance into the Korean market."

On October 26th, the Korea Machinery Industry Promotion Association will also hold the Korea Machinery Industry Market Report in Shanghai with its Chinese agent, Siemac International Exhibition Co., Ltd., to provide further opportunities for Chinese companies interested in learning more about the Korean market.

Steel Tree Grating

Steel Tree Grating,Tree Pool Perforated Strainer,Tree Perforated Strainer,Custom Steel Tree Grating

Wuxi Sixleaf Machinery Co. LTD ,