The Rifa precision machinery company in Xinchang county, Zhejiang Province, can now produce 500 numerically-controlled machine tools a year, meeting a goal set by the company for a technology renovation project.

This means that Rifa will become the largest numerically controlled machine tool production base in the country.

The company was set up in 1998 and has invested heavily in introducing software and production lines from overseas, and hiring more than 80 technicians from across the country.

The company began the development of the numerically controlled machine tool in March of 1998 and was ultimately able to turn it out in a relatively shorter period of time compared with many other producers in the country. (Xinhua)