The Ministry of Industry and Information Technology and others are promoting the high-quality development of the cable industry, and the high-end transformation has become a consensus
Source: China Jiangsu Network, Ministry of Industry and Information Technology
At the 18th China Industrial Forum, entrepreneurs from the cable industry conducted in-depth discussions on how to make the development of the cable industry stronger and smoother. In 2024, China's trade surplus in cable products has reached about 15.75 million yuan. China's demand for fiber optic cables has accounted for about 50% of global consumption for ten consecutive years. It is expected that by 2027, the market size of China's cable industry will reach 1.6 trillion yuan.
However, the transformation and upgrading of China's cable industry still faces "bottlenecks" such as severe "internal competition" and insufficient high-end products. The manufacturing and production volume of high-voltage and ultra high voltage cables in China is about twice the market demand, and the production volume of mid to low end products is even three times higher. On the other hand, the autonomy and controllability of cutting-edge technology are insufficient, and key materials such as 220kV and above ultra-high voltage cross-linked polyethylene insulation and ultra-high voltage semiconducting shielding materials still rely on imports. Some special cable products in industries such as aerospace and robotics mainly rely on imports. According to statistics, over 80% of the domestic high-end market is monopolized by foreign enterprises.
The attending companies have reached a consensus that market competition must not be limited by price, but rather by high-end, green, and intelligent aspects. Wang Zichun, the first secretary of the Party Committee of Jiangsu Dongqiang Co., Ltd., gave an example that the company invested 13.8 million yuan to update and eliminate 550 sets of high energy consuming equipment in 2023, and another 8.22 million yuan to update 17 sets of equipment in 2024. Last year, the company achieved invoiced sales of 1.41 billion yuan, a year-on-year increase of 26%.
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