Machine tool manufacturers raise their game

The Chinese machine tool industry is coming of age, with companies pursuing a larger presence internationally since China became a net exporter last June.

The industry, with a total output of 274.77 billion yuan in 2007, up 35.5 percent from 2006, is aggressively expanding into overseas markets through acquisitions and is increasing spending on research and development.

China's machine tool exports topped 5 billion yuan in 2007, an increase of 36.2 percent over 2006.