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Cable companies should mainly develop the domestic market
In 2013, the cable industry in China was at a critical turning point. Industry leaders and experts gathered at the China Asia Wire & Cable International Summit, emphasizing that the domestic market should be the main focus for growth. They agreed that despite economic challenges, Chinese cable companies needed to adapt and innovate to survive and thrive.
Many participants pointed out that with China’s GDP growth slowing down to around 7.5% in 2012, as highlighted by former Premier Wen Jiabao in the Government Work Report, businesses faced increased uncertainty. Entrepreneurs were cautious about the outlook for 2013, with many believing that survival rather than expansion would be the priority. The key to success, they said, was maintaining financial stability, ensuring timely recovery of receivables, and avoiding overexpansion.
The summit featured speakers from leading global organizations such as the German Electrical Engineers Association, the International Copper Association, and major cable companies like Nexans, General Electric, and Far East Holding. They all acknowledged the challenges facing the industry: intense competition, product homogenization, and a lack of differentiation. Many small and medium-sized enterprises lacked the necessary production capacity, quality control, and testing capabilities, leading to their elimination from the market.
Moreover, rising raw material costs and the prevalence of substandard products posed serious risks. Counterfeit goods and low-quality work had become common, undermining legitimate businesses and creating safety concerns. At the same time, foreign firms were increasingly entering the Chinese market, aiming to dominate the high-end sector. However, few Chinese cable products met international standards, highlighting a gap in performance, quality, and value-added features.
With the implementation of EU directives like WEEE, ROHS, and EUP, the push for greener manufacturing created additional trade barriers for Chinese exporters. This made it more challenging for domestic manufacturers to compete globally.
Despite these challenges, industry representatives remained optimistic. They believed that China's growing economy would eventually give rise to world-class cable companies. Over the past three decades, the industry had made significant progress, contributing to national development and technological advancement. Companies like Far East Cable, with sales reaching billions, demonstrated the potential for success.
To truly become global leaders, Chinese cable companies must focus not only on size but also on brand building, innovation, and corporate responsibility. Only through comprehensive development could they stand out in the international market and achieve long-term sustainability.