Under the background of weak international economic recovery and the transformation of domestic economic kinetic energy, the pace of transformation and upgrading of China's economy, industry and machine tool consumer market is accelerating day by day, and China's machine tool industry is facing unprecedented new environment and new problems.

In 2018, the overall development of machine tool industry in China is relatively stable. The annual main business income of 5652 enterprises in the machine tool industry provided by the National Bureau of Statistics increased 8.3 percent in 2018 from a year earlier, higher than the GDP growth rate in the same period. The total profit was 5.3 percent higher than that of the same period last year. In 2018, the consumption of metal processing machine tools in China was 29.13 billion dollars, down 2.8 percent from the same period last year.

In 2019, the external environment of China's machine tool industry is good. In 2018, China's macroeconomic development is stable, the GDP growth rate is 6.6%, and the economic development in 2019 will also remain in a reasonable range. Manufacturing investment reached 9.5% in 2018, and is obviously higher than the fixed assets investment of the whole society. These will provide favorable conditions for the smooth development of the machine tool industry.

The transformation and upgrading of machine tool industry have achieved positive results. The analysis of the machine tool industry points out that under the support and guidance of the state policy, the enterprises of the machine tool industry gradually accelerate the pace of transformation and upgrading, actively adapt to the changes in demand brought about by the fourth industrial revolution, make full use of advanced technologies such as intelligent manufacturing and industrial Internet, upgrade the technical level of products, adapt to the new needs of the technological revolution in the user field, gradually extend the product structure to the middle and high end, and gradually enter the automobile In key areas such as aerospace and military industry, and a number of enterprises with strong market competitiveness have emerged.