After the financial crisis, there has emerged a short-term contradiction between supply and demand in Chinese market, and the serious market monopoly hinders the exertion of market effect and curbs economic growth. Chinese market gradually entered a new stage of a slow developing speed. With the continuous increase in labor cost, the value of the yuan and inflation pressure, the costs of crusher enterprises correspondingly ascend, which results in product price rising. So the advantages of our crusher industry have been gradually weakened, and some multinational companies have begin to transfer their processing plants to other newly-developing countries where the production costs are much lower than ours. At present, the crusher industry needs more upgrades on technology and business model than the simple growth on gross scale.
Our crusher industry now is confronted with both the domestic market and international market. On the one hand. we have to continue to seize the overseas markets, especially to broaden the newly-emerging markets, and to seek new growth points of overseas; On the other hand, we should pay attention to cultivating and developing local markets, developing marketable products according to the demands in domestic markets and opening up a broader market space for the transformation and upgrade of the manufacturing industry.
In the future international market competition and in the face of all sorts of concerns ahead, Zhongde Heavy Industries will continue innovating and developing. We will improve not only ourselves but also the overall quality and development level of the whole industry to master the trend of the overall pattern in the future and do a good guiding job for the further development in crusher industry.
Now many mining machinery enterprises are faced with a slow growth in domestic markets and an increasing saturation, as well as the pressure from the high and new technologies and equipment from abroad. But as the crusher equipment is progressing toward large-scale, automation, intelligentization and integration, the market demand for crusher equipment will still increase in the further.
We believe that in the near future our mining machinery industry is bound to integrate with international technologies.
