Chinese Fastener Industry Meets Opportunities

According to statistics from the Fastener branch of China General Machine Components Industry Association, the total global demand for fasteners in 2001 is 36.35 billion US dollars, while it reached 46.35 billion US dollars in 2006, with an average increase of 5.0%. The high-end industries such as building maintenance, automotive, electronic appliances, industrial machinery and fabricated metal products and so on have increased the demand for fasteners significantly.

 

According to statistics from the Ministry of Commerce of PRC issued on January 20, China's total import and export volume has increased from 620.8 billion US dollars in 2002 to 2173.8 billion US dollars in 2007, with an annual increase of 28.5 percent, ranking second in the world. At the same time, the demand for Chinese fastener in foreign countries have increased s year by year， such as America, Japan, Germany, France, Britain, Canada, Italy, South Korea and  Spain.