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In recent years, the Chinese mold industry has been facing multiple challenges. It's not only struggling with technological innovation but also dealing with more humanized management practices and a fierce price war on the global stage. As labor costs in China continue to rise, many foreign companies are shifting their manufacturing bases to countries like India and the Philippines, where labor is cheaper. For instance, the Japanese die-casting mold sector has started moving low-tech molds to lower-cost regions while keeping high-tech products under tight control. However, Chinese mold manufacturers find it hard to compete in terms of profit margins and still lag behind developed nations in technology, putting them in a tough spot.
Under these international conditions, the internal demand in the U.S., Europe, and other developed markets has gradually declined. At the same time, rising production costs have pushed mold makers from these regions to look toward the Chinese market, intensifying competition with local companies. This has made the domestic mold market even more competitive, forcing many small and medium-sized enterprises (SMEs) to struggle and some to go out of business. But this situation also presents an opportunity for Chinese companies to push forward with innovation and improve their capabilities.
Moreover, the effects of the global financial crisis are still lingering, and the European debt crisis has further worsened the situation. The mold market has shrunk as a result, and rising prices and labor costs have put additional pressure on businesses. As a consequence, profit margins are shrinking, and the market is becoming increasingly crowded with more players vying for a smaller pie.
Therefore, in addition to fostering innovation, Chinese mold companies must focus on cost control, especially labor expenses. Adopting an information-driven production model can help reduce manual labor and replace it with machines, which in turn increases profit margins and strengthens competitiveness. By embracing automation and digital transformation, the industry can not only survive but also thrive in the long run.
China's mold industry needs to update equipment - pick up company