German machinery manufacturing accelerates expansion, sees China as main rival

According to a survey report recently released by the German Machinery Manufacturing Association (VDMA), most companies in the industry hope to significantly increase overseas sales by 2015, especially to accelerate the development of the Chinese market. VDMA Chairman Lindner said that the main competitors of Germany's machinery manufacturing industry in the future will come from countries such as China, India and Brazil, so German companies must accelerate the expansion of local market share. The report also forecasts a 6% increase in German machinery production in 2010 and 8% in 2011.