According to the statistics of the “China Valve Manufacturing Industry Production and Sales Demand Forecast and Transformation Upgrade Analysis Report” released by the Foresight Industry Research Institute, the valve output in China has reached 7.86 million tons in 2017, an increase of 2.77%. As of the first half of 2018, China's valve imports amounted to 51.12 million sets, an increase of 25.1% year-on-year. In the first half of the year, the import value of valves in China was 3,632 million US dollars, down 0.5% year-on-year. It is predicted that China's valve production will reach 8.3 million tons in 2019, and the compound annual growth rate will be about 3.02% in the next five years (2019-2023). It is predicted that China's valve production will reach 9.35 million tons in 2023.