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Follow on Google News | New Challenges to Chinese Tire Industry in 2010The prices of raw materials like natural rubber have recovered to record highs. The tire special safeguard case of USA will further impact Chinese tire industry. Moreover, EU and USA have begun to establish new standards, laws and regulations.
By: www.shcri.com Presently, Chinese tire industry is confronted with prominent product structural inconsistency, severe homogeneity, inadequate production capacity for new products (e.g. environmentally- China has promised to reduce the carbon dioxide emission per unit GDP by 40%-45% in 2020 compared with that in 2005. It is predicted that many expenses will be increased. There will be a huge cost for carbon emission reduction in China. Besides, the pressure for CNY appreciation is growing. Since 2005, CNY has appreciated by near 20%. According to investigation, when CNY appreciates by 1%, the export profit rate of tire will drop by 1%. The average profit rate of tire export is only 3%-5%. Moreover, China will keep the macroeconomic policy continuous and stable in 2010. The government will continue to implement the proactive fiscal policy and moderately easy monetary policy. The national urbanization development will continue to promote the development of highway, automobile and real estate industries. The auto production is expected to reach 15.50 million in 2010 with the growth rate of 15% YOY. The auto reserving volume will exceed 80 million. Thus, the tire demand in Chinese market will be further enlarged. All these will support the development of the tire industry. Source: Research Report on Chinese Tire Industry, 2010-2011 (http://www.shcri.com/ Chinese tire industry should speed up the product structure adjustment and develop products with high technology content and high added value for the global market. The focus should be environmentally- Source: Research Report on Chinese Tire Industry, 2010-2011 (http://www.shcri.com/ Contacts: www.shcri.com 86-21-6150-9706 End
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