THE vice-chairman of Kunming Machine Tool, the sixth mainland firm to list in Hong Kong, does not fear foreign competition for his high-precision products should tariffs be cut.
Guo Jinyuan believes the listing will help the company join the world's top players to co-produce high-technology machine tools.
Mr Guo says the firm benefits from having some of the world's cheapest costs in precision tool production, and the capital raised in the planned float will allow him to buy new high-technology equipment to make Kunming internationally competitive in high-quality production.
Mr Guo says the group plans to meet the expected rising demand in China for state-of-the-art machine tools.
''Domestic demand is big for high-quality machine tools, which can provide our key industries like transportation, power and electronics with better (equipment),'' he said.
Machine tools make parts for products such as cars or for use in most industries.
