China is the world's largest consumer of machine tools. Its annual consumption exceeds the combined consumption of the United States, Japan, and Germany. With the rapid development of China's equipment manufacturing industry, the consumption of machine tools will continue to grow rapidly. Huge consumer demand and growth potential, while promoting the development of related domestic industry enterprises, has also attracted well-known overseas companies to focus their development to China.

The head of the world-famous tool manufacturer Walter said that following the establishment of a factory in Wuxi, the Asia Pacific headquarters will be relocated from Singapore to Shanghai, and plans to use China as the center to radiate throughout Asia. This German-funded company entering the Chinese market for 15 years has increased its number of employees to 20 times in China. It has full-time sales staff in more than 20 cities and its sales have increased from 10 million yuan to several hundred million yuan. As an extremely important component of industrial machine tools, Walter's high-efficiency tools are widely used in precision manufacturing of automobiles, aviation, and energy. Walter's development in China benefits from China's rapid growth in these areas.

Taking the automobile manufacturing industry as an example, China has only a few world-renowned brands and now owns a number of state-owned brands; from single models to small batches and models, and from driving power to new energy vehicles, the automobile industry is The development of processing precision, processing efficiency, process, shape, new materials, etc. has a high ability to absorb advanced cutting tools.

The machine tool industry is the basic industry for industrial production, and it is the most basic means to realize equipment manufacturing. In the future, as the economy and equipment manufacturing industry continue to maintain rapid and steady growth, China will increasingly become a thriving market for attracting global machine tool industry enterprises. However, while seeing the development prospects, industry insiders also pointed out that the current structure of China's machine tools and tools still can not meet the demand of the domestic market for high-end products, there are still some areas of low-level redundant construction phenomenon, high-end product areas rely on foreign-funded products Higher degree. The future adjustment of product structure is a long-term and arduous task. It requires industry professionals to make great efforts and it needs the state to give appropriate policy support.