In 2010, the global machine tool industry suffered a loss but recovered rapidly, with the gross industrial output value rising 21.1% YoY, the sales revenue up by 12.6% YoY, and the import value growing 17.1% YoY. In particular, China achieved the gross industrial output value of RMB553.68 billion, the industrial sales revenue of RMB543.44 billion and the import value of RMB15.715 billion in 2010.

Over the recent two years, the strong consumer demand in the Chinese machine tool industry has attracted many foreign companies. Currently, almost all of the world's top 10 machine tool manufacturers have invested or set up joint ventures in China.

In order to effectively promote the development of the industry, China promulgated its Twelfth Five-Year Development Plan for Machine Tool Industry in July 2011. According to this plan, the focuses in the next five years include four types of host machine (metal cutting machine tools, metal forming machine tools, forging machines, woodworking machines), functional components, machine tool accessories, medium and high-end CNC systems and other products