A 2006 Goldman Sachs Global Investment Bank report predicted that China's economy would surpass that of the west by 2050. However, according to Steve Weedon, CEO of caterpillar world, China has become the world's largest economy in 2016 and the first developing country ever to do so.

At the 2016 China (Zhuhai) International Printing Consumables Industry Summit, Steve Weedon mentioned that China has established a developed transportation system nationwide, including a complete high-speed rail transportation network. Cluster manufacturing is the cornerstone of China's manufacturing industry. At present, 65% of China's spare parts are made of domestic raw materials, greatly reducing the demand for imported spare parts.

He also pointed out that there are 680 manufacturers of printing consumables in Zhuhai alone, and their export volume has exceeded 7.65 billion US dollars (51.84 billion yuan). These enterprises provide 68.4% of the inkjet printing market, 40.1% of the carbon powder Market and 78.6% of the printer ribbon market.

He added that China's patent application for printing consumables has changed from being completely ignored in the past to the world's leading patent applicant for printing consumables. He called on consumable manufacturers to take off their tinted glasses and work with Chinese printing consumables companies to avoid being left behind in the future.

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