SHANGHAI, Nov. 29 (SMM) -- The Ministry of Industry and Information Technology (MIIT) officially released the Development Plan for Machine Components, Manufacturing Process and Mechanical Materials Industry in the 12th Five-Year Plan Period on November 25th.
The plan stipulates that China will focus on the development of 11 types of machine components, 6 types of manufacturing processes, and 2 types of mechanical materials during the 12th Five-Year Plan period in an effort to meet needs of machine components from major and high-end equipment. In addition, China should gather superior resources to focus on developing 20 kinds of symbolic machine components, 15 kinds of symbolic manufacturing processes and 12 kinds of symbolic mechanical materials, and achieve large-scale production.
The plan also points out that China should encourage trans-regional and cross-ownership mergers and restructuring of enterprises, as well as the integration of advantageous resources in order to increase the industrial concentration and to form a number of large groups with international competitiveness and output value of over RMB 10 billion through policy guidance. Moreover, China should encourage leading enterprises to play a leading role in forming an industrial structure characterized by the coordinated development of large groups and SMEs.
Steelease believes the plan provides the strategic direction for China’s machine components, manufacturing process and mechanical material industry, and is favorable for the healthy development of machinery & equipment industry. Meanwhile, the plan supports the R&D and production of spring steel, gear steel, bearing steel, high-strength fasteners and other alloy steel products, which will help enhance the overall high-grade alloy steel smelting technology in China, and improve the production of these high-quality steel products and in turn reduce China’s dependency on imported high-end steel products.