Chinese construction machinery is welcoming a good time to expand the ASEAN market

The 2011 China-ASEAN Business and Investment Summit Machinery Exhibition will be held in Nanning on May 30th. With the deepening of the China-ASEAN Free Trade Area construction, China's construction machinery is gradually becoming the first choice for ASEAN countries' buyers. The 8th China-ASEAN Expo will also highlight cooperation opportunities in this field. Experts believe that Chinese construction machinery companies are welcoming a good time to expand the ASEAN market.   With the accelerated economic development of ASEAN countries and the increase in the scale of infrastructure investment, the demand for machinery and related accessories has increased substantially. ASEAN countries import a large number of mechanical products from China every year. After the China-ASEAN Free Trade Area was fully completed last year, There are 8 kinds of construction machinery to reduce tariffs, and the agreed tax rate is 5%. With the further construction of the China-ASEAN Free Trade Area, the import tax on the machinery industry will fall to zero, and the cost of importing Chinese machinery from ASEAN countries will be lower. These factors have provided more opportunities for Chinese construction machinery and transportation vehicles to expand the ASEAN market. Industry insiders in ASEAN countries believe that China's construction machinery is cheap and cost-effective, and China's construction machinery is gradually becoming the first choice for ASEAN buyers. After the completion of the China-ASEAN Free Trade Area, the economic and trade cooperation between China and ASEAN's machinery industry has grown significantly. According to the statistics of the General Administration of Customs, as of November 2010, China's machinery import and export trade volume was 16.84 billion US dollars, an increase of 47.9% over the previous year. The export value was US$ 9.31 billion, an increase of 35.4% over the previous year. It is understood that at the 7th China-ASEAN Expo last year, the repeated participation rate of construction machinery and transport vehicles exhibitors and exhibiting products reached more than 80%. Experts believe that Chinese manufacturing industries such as construction machinery, transportation vehicles, agricultural machinery and electric machinery have good value for money, which is very suitable for the needs of the ASEAN market. This is also illustrated by repeated exhibits. With the advent of the “zero tariff” era, the visionary Chinese construction machinery entrepreneurs have seen new opportunities for ASEAN. Enterprises moving towards ASEAN can not only expand the ASEAN market, but also make it easier to adjust the industrial structure within the international region. Experts suggest that construction machinery enterprises should make full use of the important platform of cooperation with ASEAN, such as the "Focus Machinery Exhibition" and the China-ASEAN Expo. It is very convenient to make the business go to ASEAN. After the implementation of the tax reduction, the cost of construction machinery products exported to ASEAN will drop by about 8%, and the tariffs saved will directly enhance the competitiveness of Chinese machinery products. In recent years, ASEAN countries have high hopes for Chinese construction machinery enterprises to invest and set up factories in ASEAN. The Chinese construction machinery industry should pay close attention to the upgrading of equipment manufacturing industry to meet the needs of the ASEAN market. When the time is right, enterprises can set up companies and offices in ASEAN countries, increase efforts to develop the ASEAN market, and provide excellent after-sales service to ASEAN customers.

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