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China's marine cable enterprises should increase research and development of cable technology
"The outlook for marine and mining cables remains uncertain," said staff from Yangzhou Hongqi Cable Manufacturing Co., Ltd. during an interview with a cable network reporter at the 5th Inner Mongolia International Coal and New Energy Industry Expo and the International Wind Power Industry Expo on September 6.
China's mining cable industry plays a crucial role in the coal sector, and its future is closely tied to the development of the coal industry itself. After years of rapid growth, the sector has reached a significant scale. However, overcapacity has become a major issue, as production exceeds demand by a large margin. This imbalance has led to intense competition and financial strain on many manufacturers, who now need to invest more in technological innovation to improve product quality and remain competitive in the market.
Meanwhile, the shipbuilding industry, which provides essential equipment for maritime transportation, marine exploration, and national defense, continues to face challenges. The lingering effects of the global financial crisis have kept the international shipping market weak, with new ship orders remaining low and prices falling. Additionally, structural issues—such as limited innovation, a lack of high-end products, and underdeveloped supporting industries—continue to hinder progress. Overcapacity has worsened, making it increasingly difficult for Chinese shipbuilders to thrive. This situation has also put pressure on the production of shipboard cables.
In response, the shipbuilding industry is pushing for structural reforms and modernization. In this context, marine cable companies like Yangzhou Hongqi should seize the opportunity to develop advanced ship-cable technologies, enhance their global competitiveness, and bridge the gap with leading international players.
Founded in 1988, Yangzhou Hongqi Cable Manufacturing Co., Ltd. has grown into a key player in the industry. The company operates the Yangzhou Enterprise Technology Center and the Yangzhou City Mining and Marine Cable Engineering Technology Research Center, giving it strong technical capabilities. It serves major shipbuilding and mining projects across China and has a solid domestic presence, with products also exported to countries in the Middle East and Africa. Its mining cables dominate the domestic market, firmly establishing it as a regional "cable leader."