In its report, China Tire Retreading Industry – Overview and Forecast to 2017, Shanghai-based China Research and Intelligence states that China’s retreading market increased by more than ten per cent year-on-year to reach a volume of 18 million tyres in 2012. This volume represented a market scale in excess of RMB 6 billion (£575 million, $972 million). Most retreading is carried out by smaller operations, added China Research and Intelligence; of the 500 or so retreaders in China, in 2012 only 20 had an annual production of more than 100,000 units.