China has firmly occupied the leading position as a manufacturing country in the world, and the proportion of manufacturing added value in the world has been increasing. The added value of China's manufacturing industry increased from $625.2 billion in 2004 to $4,975.6 billion in 2022, during which the added value of China's manufacturing industry CAGR was about 12.21%, accounting for 8.61% to 30.38% of the global proportion, while the added value of global manufacturing in the same period was only about 4.62%, and China's speed far exceeded the global average.
After surviving the negative impact of the external economic environment, the completion of fixed asset investment in China's manufacturing industry has gradually recovered and maintained a rapid growth rate. According to data from the National Bureau of Statistics on Wind, as of May 2023, the completion of fixed asset investment in China's manufacturing industry has increased by 6% year-on-year.
On the production side and the consumer side, China's machine tools are the world's largest players. According to the 2022 global market report released by VDM German Mechanical Industry Network, the total output value of the global machine tool industry in 2022 is about 80.3 billion euros, and China ranks first in the world with an output value of 25.7 billion euros, accounting for 32% of the global market, followed by Japan and Germany, with output values of 9.9 billion euros and 9.7 billion euros respectively, accounting for 12% and 12% of the global market. The global machine tool industry CR5 is as high as 71%, reflecting the high concentration of the global machine tool manufacturing market. In 2022, the global machine tool industry consumption is 80.8 billion euros, and China also ranks first in the market with a scale of 26 billion euros, followed by the United States and Germany, with consumption of 9.7 billion euros and 5.2 billion euros respectively, accounting for 12% and 7% of the global demand market, and the demand of the first three countries has occupied half of the global machine tool consumption. In the past five years, China has always maintained the leading position at both ends of the supply and demand of the global machine tool market, and in 2022 it will still maintain a rapid growth of output value of 18% year-on-year and consumption growth of 10% year-on-year.