Li Zhihong: Interpretation of Economic Operation of Superhard Materials Industry

On April 16, 2013, the 5th Executive Director (Expansion) Meeting of the 4th China Superhard Materials Association took place in Huangshan City, Anhui Province. During the meeting, Li Zhihong, the Secretary General of the association, delivered a detailed report titled “Interpretation of Economic Operation Data of the Superhard Materials Industry.” This event brought together key industry leaders and experts to discuss the current state and future direction of the sector. In his speech, Li highlighted that global economic growth remained sluggish, while domestic economic expansion slowed down, leading to reduced demand in both domestic and international markets. Despite these challenges, the industry still maintained double-digit growth, which was considered high-speed by industry standards. However, this growth came with significant structural issues that needed urgent attention. One major point raised was the decline in diamond exports, marking the second such drop since 2009. The volume and price of exported diamonds both fell, while imports saw an upward trend, with import prices rising sharply. The unit price ratio between imports and exports reached 3.7 times, reflecting a growing gap. Although there is much talk about China's diamonds reaching world-class standards, the reality is that Chinese products mainly occupy the low-end market, with high-end markets still dominated by developed nations. This clearly indicates the need for a more balanced product structure. The export of grinding wheels and saw blades showed some improvement, but the overall gap remained significant. The unit price ratio for saw blades stood at 2.2 times, slightly lower than previous years, but still far from parity. Meanwhile, the unit price ratio for turning tools reached an astonishing 135.5 times, showing a sharp increase of 87.1 times. These figures highlight the difficulties in achieving a more competitive product structure. Looking ahead, the long-term development prospects of the superhard materials industry remain promising. However, short-term support and investment are lacking. To ensure sustainable growth, the industry must focus on strengthening research and development, upgrading technology, and continuously innovating. Understanding market demands, identifying gaps, and investing in differentiated products are essential strategies for latecomers. It’s crucial to avoid repeating past mistakes—such as blind expansion, overproduction, and lack of strategic planning—which could lead to serious consequences. The path forward requires careful management, smart investments, and a commitment to quality and innovation.
Li Zhihong, Secretary General of Superhard Materials Association

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