According to the China Machinery Industry Federation, in the coming years, the development speed of China's wire and cable industry will be higher than that of the national economy, expected to reach over 10%. Especially for power wires and cables, the annual growth rate can reach 15%.
In recent years, due to the accelerated construction of China's power grid and the continuous investment of ultra-high voltage projects, a huge market has been created for the wire and cable industry. In the past 15 years, the average annual growth rate of the wire and cable industry has exceeded 15%. At present, the total industrial output value of the industry exceeds 400 billion yuan, surpassing the United States and becoming the world's largest producer of wires and cables.
At present, China's wire and cable industry has formed a huge production capacity based on a large amount of technology introduction, digestion and absorption, and independent research and development. The supporting cable materials and equipment manufacturing industry has also formed a relatively complete supporting system. The main presentation is that large enterprises have obvious advantages in market competitiveness and strong profitability; Small and medium-sized enterprises have good asset operation capabilities; The market-oriented operation mechanism of private enterprises is flexible and develops rapidly, especially the prominent advantages of wire and cable manufacturing enterprises in coastal economically developed areas. In terms of assets, the state-owned economy currently accounts for only 15%, foreign-funded enterprises account for nearly 25%, and the private economy accounts for over 60%. Among the top ten companies in the sales revenue of the wire and cable industry, the vast majority are private enterprises. The East China region is the most important manufacturing area in the wire and cable industry, accounting for 50% of the country's assets and output value, forming 60% of sales revenue, and winning 70% of the industry's profits.