For more than ten years, Chinese manufacturing has become famous all over the world. Especially after the financial crisis, China’s manufacturing has gone against the market. In 2010, the global share of manufacturing output exceeded that of the United States, becoming the world's number one. It is in these two years, under the "Shengshi" scene, the interior of China's manufacturing has begun to undergo a radical transformation and reconstruction. The dilemma we see today, "the high-end is not going, the low-end is difficult to maintain", is the inevitable chaos and the inevitable tempering in the transition period. High investment to drive high economic growth is the most distinctive feature of the Chinese economy. Huge investment is not only from the supply of state finance, but also the government can stimulate and encourage enterprises to invest in fixed assets by lowering the prices of various factors such as land, labor, capital, resources and environment, so that China’s domestic fixed assets investment in the past 10 years The growth rate is maintained at more than 20% per year, and the growth rate is far behind in the world. Real money has indeed driven the domestic economy to run all the way, but also precipitated considerable production capacity. Due to the low capacity utilization rate, China's long-term backlog of production capacity can not be fully utilized and effectively released, resulting in overcapacity has become a major injury in China's manufacturing industry. Many industries are now overcapacity in accordance with generally accepted standards of global manufacturing, when companies continued to decline and capacity utilization below 90%, indicating that the device is idle too much, the passage of time will inevitably lead to overcapacity. Statistics show that the average capacity utilization rate of China's manufacturing industry is about 60%, which is not only lower than the current industrial utilization rate of 78.9% in developed countries such as the United States, but also lower than the average of 71.6% in global manufacturing. According to the latest statistics released by the Ministry of Industry and Information Technology, 22 of the current 24 industries in China have serious overcapacity. The steel industry is the “big family†of overcapacity in China's manufacturing industry. According to the National Development and Reform Commission, China's steel output will reach 700 million tons in 2012, exceeding the 680 million tons in 2011. At present, the domestic and international market demand for Chinese steel is only about 500 million tons, and supply exceeds demand. It is worth noting that although the current steel price has fallen below the full cost of many steel producers, steel companies are still operating at full capacity and increasing production, and even the output of domestic steel companies is maintained at an average of more than 60 million tons per month. The highest level in history, the future supply and demand conflict of the steel industry will further intensify. Compared with the steel industry, the pressure on overcapacity in the domestic auto industry is not small. The research report of China Automotive Industry Outlook released by consulting firm AlixPartners shows that the average capacity utilization rate of the entire Chinese automotive industry has dropped from 85% in 2010 to 70% in 2012, which is lower than the 75% approved by the international automotive industry. Breakeven point. At present, domestic automobile production has exceeded 20 million. According to the industry forecast report of the National Development and Reform Commission, the production capacity of China's automobile industry will reach more than 40 million by 2015. Correspondingly, even if the domestic market demand is calculated at a growth rate of 10% in the next five years, only the demand scale of 29.08 million vehicles will be reached by 2015. As one of the industries with the highest degree of marketization in the domestic market, the production capacity of the household appliance industry has not survived the inferiority under the influence of the market mechanism, but the extensive expansion has intensified. At present, China's color TV products account for 80% of global production capacity, air conditioner products account for 70% of the world's production capacity, refrigerator products account for 50% of the world's production capacity, washing machine products account for 40% of the world's production capacity, more than 80% of small household electrical appliances production capacity Also in China. It should be emphasized that, stimulated by policy factors such as “home appliances going to the countrysideâ€, domestic appliance production capacity has accelerated at a rate of more than 30% in the past two years, far exceeding the normal rate of 10% to 15%. In addition to the traditional industries, some industries such as wind power equipment in emerging industries and polysilicon for solar photovoltaic power generation have also exposed the problem of overcapacity. Taking the photovoltaic industry as an example, among the more than 500 PV companies in the country, one-third of the SMEs have a capacity utilization rate of 20% to 30%, while the current market demand for the PV industry in the international market is only about 30GW per month, but the actual The production capacity is as high as 40GW~50GW, of which 80% of the production capacity is concentrated in China. In the short-term, the overcapacity has directly led to the accelerated accumulation of pressure on the “destocking†of manufacturing companies. The HSBC Purchasing Managers Index (PMI) sub-item data shows that the company's finished goods inventory index has hit the highest value since the beginning of the April 2004 HSBC PMI data survey. According to official PMI data, finished goods in August 2012 will continue to rise after the index has reached the highest level in history. The seriousness of the problem lies in the fact that in the case of high inventory, enterprises still have to push products to the market continuously, resulting in an increase in accounts receivable, which in turn affects the flow of funds of enterprises, and the pressure on business operations will continue to increase. . Relevant data show that as of the end of August 2012, the total amount of accounts receivable accumulated in the listed companies in the Shanghai and Shenzhen manufacturing industry reached more than 890 billion yuan, a surge of 47% over the same period in 2011. Not only that, in the face of high inventory, because the market demand has not been fundamentally improved, the market bargaining power of enterprises has been greatly weakened, and ultimately, the price reduction can be accelerated by frequent price reductions, which will in turn restrict the rebound of production prices. Space and further worsen the business environment. Big but not strong is a long-term illness brought to China's manufacturing industry by overcapacity. Although the growth rate of operating income, total assets, and entry thresholds of the top 500 Chinese companies in 2012 was higher than that of the top 500 US companies, the profit growth rate was lower than the top 500 US companies for three consecutive years, including the net of the top 500 Chinese companies in 2011. Profit and per capita operating income are only 39.5% and 50% of the top 500 US companies. The reason for this is that Chinese manufacturing companies are always in the low-end of manufacturing and manufacturing in the global industrial chain, and also determine the quality of China's manufacturing industry. The data show that the current value-added rate of China's manufacturing industry is only 26.23%, which is 22.99, 22.12 and 11.69 percentage points lower than that of the United States, Japan and Germany. What needs to be pointed out is that the top-level design of the system is still biased towards stimulating investment, local governments have a strong impulse to GDP, and the environment of repeated construction is not exhausted and the income of the people has not been significantly improved. The surplus will be minimal. Not only that, the financial crisis and the European debt crisis have caused countries such as Europe and the United States to stop the economic growth of high debt and high consumption, so that China’s manufacturing industry, which has obvious export-oriented characteristics, will inevitably form a tough structural constraint. It will be very difficult and long for external forces to get rid of the overcapacity.
milling cutter,Indexable Ball Nose End Mill,Corn Teeth End Mills.Diamond Coated Drill Bit
JIANGYIN GOLD STAR INDUSTRY CO.,LTD , https://www.goldstarmilling.com