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With the official issuance of the People’s Bank of China’s Guidance on Special Rectification to Mistaken Payment of False Currency by Finance Institutes in Bank Industry (YBF (2013)No.14) in 2013, the currency sorter market in China is facing huge market demand and development opportunity.
According to Huidian Research, because of the drive of strong demand of bank, stimulation of central bank’s policies, mature banknote sorter technology and reasonable price, the market scale of banknote sorter in China is growing rapidly with great growth potential in China. Since 2007, the annual average growth rate of market scale of banknote sorter has exceeded 60%, it can be expected that the market scale of banknote sorter can hit CNY 12 billion in 2014.
At present, the small-size banknote sorter industry is still in prosperity upward stage, it is predicted that the rapid growth can be maintained until 2017, the output of this industry will increase fast in overall. The fast increase of output of banknote sorter will concurrent with the price decrease of banknote sorter, it is predicted that the price will decrease by about 5%-10%.
In 2013, Liaoning Julong Financial Equipment Corp’s sale revenue increased by 102.06% over the same period of last year, the market share was almost no changes with 2012. Shanghai Guao Electronic Technology Co., Ltd’s sales revenue in 2013 was 2.8 times than 2012; GRGBanking entered into banknote sorter market rapidly in 2013, the sales revenue of banknote sorter realized CNY 73.34 million in the same year, in 2014, it continued to maintain fast growth and became another strong competitor in banknote sorter market. Shandong New Beiyang Information Technology Co., Ltd merged Anshan Bozong and entered into this market.
Please note: The report is Chinese version. It will provide the English version in two business days.
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