Saturday, September 30, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

Chinese tiremakers bet on recovery via new plants in Cambodia

May 30, 2023
in Business, Cambodia, National
0
Chinese tiremakers bet on recovery via new plants in Cambodia
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Manufacturers in China, the world’s largest producer and exporter of tires, are building factories abroad in an optimistic mindset to meet rebounding market demand.

China’s rubber tire exports reached CNY12.7 billion ($1.8 billion) in April, up nearly 22 percent from a year ago, according to customs data. Shipments totaled 730,000 metric tons, a 14 percent uptick.

Demand at home and abroad is recovering, Securities Daily reported today. Sailun Group, a Qingdao-based manufacturer, said that domestic orders are high with sufficient production capacity, and orders for semi-steel tires aboard have risen to levels seen in the first half of last year.

China is the biggest tire nation as the country’s annual output makes up more than half of the global total. But lately, many firms have started building plants abroad and especially in Cambodia, the main producer of rubber for tires.

As domestic and foreign demand improve, tire companies increase supply while Cambodia is showing signs of becoming a trending destination for new plants, according to Xing Xing, director of Bestar Securities’ research institute.

One of those early adopters is China’s Doublestar Tire Industrial. Earlier this month, the firm started constructing its $200 million plant in northeastern Cambodia with an annual production capacity of 8.5 million radial tires.
Moreover, Jiangsu province-based General Science Technology kicked off operations at its Cambodia factory a week ago. This makes the company one of the few Chinese tiremakers to have plants in two foreign countries, according to Chairman Gu Cu.

Thailand is also popular. Another Qingdao-headquartered firm, Sen Qilin, said that the company’s new factory in the Southeast Asian country is expanding production. The project is expected to be ready by December to make as many as six million semi-steel tires and two million all-steel tires per year. Yicaiglobal.com

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: Cambodiatiremaker
Previous Post

Cambodia Mekong River cruise business ‘slowly’ getting back on track

Next Post

Nasa looks to spice up astronaut menu with deep space food production

Related Posts

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

by Khmer Times
July 3, 2023
0
18

Neak Poan Temple is one of the most attractive tourist destinations among the ancient temples, which is located along the...

Cambodian pepper gains direct export rights to China

Cambodian pepper gains direct export rights to China

by Khmer Times
July 3, 2023
0
16

The Chinese Embassy in Cambodia announced today that Cambodian pepper has completed all export procedures to China, which means can...

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

by AsiaOne
June 14, 2023
0
38

One of South Korea's top livestreamers was recently found dead in Cambodia. Byeon Ah-young's body was discovered — wrapped in a...

Most Popular

At least 146 dead, 150 injured in stampede during Halloween festivities in Seoul

At least 146 dead, 150 injured in stampede during Halloween festivities in Seoul

October 30, 2022
137
Cambodia’s vehicle industry grown nearly 24% in nine months in 2021

Cambodia’s vehicle industry grown nearly 24% in nine months in 2021

January 1, 2022
109
Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

June 14, 2023
38
Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

July 3, 2023
18
PTT (Cambodia) Ltd launches three EV charging stations in Cambodia

PTT (Cambodia) Ltd launches three EV charging stations in Cambodia

March 4, 2023
15
Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

March 22, 2023
21

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!