A 2006 report by Goldman Sachs Global Investment Bank predicts that the Chinese economy will surpass Western countries by 2050. But Steve Weedon, CEO of Cartridge World, said that China has become the world's number one economy in 2016, the first developing country in history to do this.
At the 2016 China (Zhuhai) International Printing Consumables Industry Summit, Steve Weedon mentioned that China has established a developed transportation system throughout the country, including a comprehensive high-speed rail transportation network. Cluster manufacturing is the cornerstone of China's manufacturing industry. At present, 65% of China's parts and components are produced using domestic raw materials, which greatly reduces the need for parts and components.
He also pointed out that there are only 680 printing consumables manufacturers in Zhuhai, and the export value of these enterprises has exceeded 7.65 billion US dollars (about 51.84 billion yuan). These companies supply 68.4% of the inkjet printing market, 40.1% of the toner market and 78.6% of the printer ribbon market.
He added that China's patent applications for printing consumables have changed from a completely neglected application in the past to the current world's leading printing consumable patent application country. He called on consumables to take off colored glasses and conduct business cooperation with Chinese printing consumables companies to avoid being left behind by Chinese companies in the future.
Source: China office supplies network
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