Shandong, China tyre production picks up

First half 2022 data released by several Shandong Province institutions shows that manufacturing output within China’s best-known province for tyre production is picking up.

For example, Dongying City is home to many large tyre manufacturers such as Jinyu Tire, Huasheng Rubber, and Yongsheng Rubber. From January to March, the Dongying tyre industry’s industrial added value decreased by 3.5 per cent. In the second quarter, the operation improved. The tyre companies’ production load increased from 72 per cent at the end of May to 80 per cent at the end of June. In the first half of the year, the Dongying tyre industry’s added value decreased by 0.9 per cent year on year.

Two important tyre production areas in Shandong Province, Dongying City and Qingdao City, saw tyres’ export value in the first half of the year increase by 7.4 per cent and 23 per cent year-on-year, respectively. At a recent press conference, Shandong’s customs department stated that the tyre industry is less dependent on external industrial chains and can maintain stable growth when the economy is under tremendous downward pressure. Data show that in the first half of the year, Shandong exported 2.354 million tons of tyres, a year-on-year increase of 2.6 per cent, and the export value was 36.529 billion yuan, an increase of 13 per cent.

Shandong aside, tyre exports from other regions in China also showed a promising trend in the first half of 2022. Henan Province exported 1.348 billion yuan of new pneumatic rubber tyres, an increase of 31 per cent. Liaoning Province exported 2.343 billion yuan of tyres, a year-on-year increase of 49 per cent. Chongqing’s tyre exports reached 606 million yuan, an increase of 14.8 per cent.