Research Report on Chinese Tire Industry, 2010-201119 Nov 2010 • by Natalie Aster
London - Detailed market research report “Research Report on Chinese Tire Industry, 2010-2011” has been published by China Research and Intelligence.
In the short run, the slump of the tire market caused by the global financial crisis led to the decline of Chinese tire export. The antidumping measures of USA and Brazil, etc also intensified the overcapacity of Chinese tire industry. In 2008, due to the global financial crisis, Chinese auto market assumed sluggish growth, leading to the demand shrinkage in Chinese tire industry. On the whole, the global financial crisis has generated adverse influences on Chinese tire industry in the short run (2008-2009H1).
To cope with the financial crisis, Chinese government releases a series of policies to stimulate the domestic demand since the beginning of 2009, including the encouragement on auto consumption. In 2009, Chinese auto sales volume rose by over 40% YOY, propelling the development of Chinese tire industry.
Since 2009H2, relying on the prosperous demand in the domestic market, Chinese tire enterprises are able to offset the unfavorable influences from export decline. Chinese tire market is highly valued by global tire enterprises. International tire giants such as Michelin and Bridgestone have enhanced their investment in China despite the financial crisis.
In the medium to long run (since 2009H2), the global financial crisis does not place great unfavorable influence on Chinese tire industry. It even promotes Chinese tire industry to some extent. Thus, the status of Chinese tire industry in the global tire industry is raised.
Research Report on Chinese Tire Industry, 2010-2011
Published: May 2010
Price: US$ 2,990.00
Report Sample Abstract:
Domestic Economic Environment
In 2009, as Chinese economy gradually recovered from the global financial crisis, Chinese GDP reached nearly CNY 33.54 trillion, rising by 8.7% YOY based on the comparable price (excluding factors like inflation); the growth rate dropped by 0.9% YOY. In terms of growth by quarters, the growth rate was 6.2% YOY in Q1, 7.9% YOY in Q2, 9.1% YOY in Q3 and 10.7% YOY in Q4. In terms of growth by sectors, the added value of the primary industry was CNY 3,547.70 billion, rising by 4.2%; that of the secondary industry was CNY 15,695.80 billion, growing by 9.5%; that of the tertiary industry was CNY 14,291.80 billion, rising by 8.9%.
GDP of China 2005-209
Source: National Bureau of Statistics of China
In 2009, the total retail sales of consumer goods in China reached CNY 12,534.30 billion, 15.5% growth over 2008. In 2009, the income per capita of Chinese urban households was CNY 18,858. The disposable income per capita of urban residents was CNY 17,175, a growth of 8.8% YOY. The net income per capita of rural residents was 5,153, rising by 8.2% YOY. In 2009, Chinese money supply grew rapidly and newly increased credits rose by a large margin. At the end of December 2009, the balance of broad money (M2) was CNY 60.60 trillion in China, rising by 27.7% YOY; the growth rate was 9.9% higher than that at the end of December 2008. The balance of narrow money (M1) was CNY 22.00 trillion, growing by 32.4%; the growth rate was raised by 23.3% YOY. The currency in circulation (M0) amounted to CNY 3.82 trillion, rising by 11.8% YOY; the growth rate dropped by 0.9% YOY. The balance of loans of all financial institutions totaled CNY 40.00 trillion, up by CNY 9.60 trillion over that at the beginning of 2009 and CNY 4.70 trillion YOY.
More information can be found in the report “Research Report on Chinese Tire Industry, 2010-2011” by China Research and Intelligence.
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