In 2018, the economic operation of China’s rubber industry remained generally stable. Due to the decline in domestic automobile production and sales, and the adjustment of logistics and transportation methods, the rubber tire products market has been affected accordingly. According to statistics, China Rubber Industry Association (hereinafter referred to as CRIA) expects that annual income of main business of major member enterprises grows by about 5% year-on-year, profits increases by about 25% year-on-year, export delivery value increases by about 8% year-on-year, and profit margin of sales revenue is around 5%. Hereinto, in the tire industry, the annual raw material price is basically in a stable state, the costs of labor, energy and environmental protection are basically controllable, the market rigidity of foreign and domestic demand guarantees the utilization of basic production capacity, the appreciation of US dollar has improved the export earnings, and the overseas factories have good returns. In addition, the base of last year is relatively low. Therefore, the expected benefits are better than that of last year, though the output of tire is basically the same as that of last year.
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