China is world’s biggest valve manufacturer, but the profit is only 10% - 20% of foreign products. Yesterday, the secretary general of China Valve Association- Yinli Song said in a special lecture to China valves manufacturer, “China is world’s biggest valve manufacturer, we produce over 50% of valves in the world, but we do not have high competitiveness in middle and high-end market”
The price of foreign products is 5-10 times higher than our products. Mr. Song said, “Last year, we cost more than 10 billion yuan on importing valves, the profit account for about 50%. In China Valves manufacturers, the main sales revenue is more than 240 billion, the profit is only 17 billion yuan.” China valve manufacturers need creative, and develop new products, especially the high-end product. Now we had some break in high end products, but it is not enough. For example, a set of Liquefied natural gas (LNG) equipment needs more than 1300 valves, among this, ball valves are more than 1000, and now we can not totally produce China ball valves.
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