On May 18th, the General Administration of Customs P.R.China released tire export data for April 2022. China Rubber Magazine discovered that although performance remained flat month-on-month, significant growth could still be seen year-on-year. The notable fact is that China's tire export prices have increased significantly yearly.
Key statistics which is shown by the relevant data are as follows:
While tire export performance indicates domestic tire makers are performing splendidly, global expansion by the Chinese tire makers points to excellent strategies to strengthen their global presence overseas. Chinese tire enterprise Jiangsu General Science Technology Co., Ltd. accelerates overseas project construction by issuing an announcement on May 23rd proposing to raise no more than 1.028 billion yuan for Cambodia's high-performance meridian tire project and additional working capital. The General Cambodia project plans to invest 1906.58 million yuan, with an annual output of 5 million high-performance semi-steel radial tires and 900,000 high-performance all-steel radial tires. Production is expected to start in June 2023.
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