The machine tool industry will face six challenges in 2012, according to the Ministry of Industry and Information Technology Wednesday.
The challenges include the slowing development of main client industries, soaring raw material price, the rising value of the yuan, the complex global economy, the tight supply of credit and the considerable volume of foreign imports.
The ministry predicted an apparent slowing down of economic growth in 2012. The output growth of machine tool industry will maintain at 15 percent, while gross profit growth will further slow.