Machine tools are the carrier of advanced manufacturing technology and the basic means of production of the equipment industry. They are the basic equipment of the equipment manufacturing industry and mainly serve the industries of automobiles, military industries, agricultural machinery, engineering machinery, power equipment, railway locomotives, and ships. China has become the world's largest machine tool consumer and high-quality machine tool country for several years, and it is the third largest machine tool producer in the world.

Due to the key role of the machine tool industry in the defense military and manufacturing competitiveness, the Chinese government has raised the machine tool industry to a strategic position and listed the development of large-scale, precision, high-speed CNC equipment and functional components as one of the country's important revitalization goals. With the successive introduction of a series of supportive policies, China's machine tool industry is expected to continue its rapid growth in the next few years while achieving qualitative breakthroughs in technical capabilities, forming international competitiveness in the field of high-end machine tools, and creating several advanced Machine tool companies. Generally speaking, the medium and long-term development momentum of China's machine tool market will still be relatively strong, and the Chinese machine tool industry will enter a period of strategic opportunities for development in the next few years.