China’s top farming equipment manufacturers are seeking investment opportunities in Southeast Asia at the ongoing 11th China-ASEAN Expo held in Nanning in south China’s Guangxi Zhuang Autonomous Region. China National Machinery Industry Corporation (SINOMACH), the country’s first Fortune 500 company in the machinery sector, has launched an investment program in Vietnam and Thailand in an effort to break into the local market using its advantages in capital and research and development…Full Article: The Global Times Sept 2014
- Founded in 1955 and headquartered in Henan province, YTO Group Corporation is a Chinese agricultural machinery and construction machinery manufacturer that already has investments (e.g. joint ventures) in Indonesia and Thailand.
- In 2012, China produced 1 million harvesters and over 2 million tractors.
- In 2011, Chinese production of harvesting machines surpassed 1 million, a 50% increase from 2010.
- In 2005, there was a marked increase in China’s domestic patent applications for agricultural machinery.