2011 Five Region Fastener Association Conference was held successfully at Korea Federation of Small and Medium Business (Kbiz) Grand Hall, Seoul, South Korea, on Sep. 26th, 2011. Mr. Feng Jinyao, President of China Fastener Industry Associaiton, introduced the general situation of China's Fastener Industry. 

Mr. Feng Jinyao, President of China Fastener Industry Associaiton

With global economic recovery, China’s fastener export also got temporary recovery in 2010 but still not reached the highest level of 2008. According to the statistics of China Custom, the steel fasteners exported from mainland China in 2010 were in the volume of 2.2395 million tons and in the value of USD $ 3.462 billion, jumped by 38.94% and 46.26% respectively year-on-year. The export volume took up about 37% of total sales volume in 2010 and the share between export and domestic sale became more and more reasonable. In 2010, the fasteners exported to North America, Russia, South Africa and Brazil got an obvious increase. 

Meanwhile, the fasteners imported by mainland China in 2010 were in the volume of 258.3 thousand tons and in the value of USD $ 2.658 billion, up 32% and 26% respectively year-on-year, with the average price of USD $ 10,290 per ton, six times of the export average price.

According to the preliminary statistics, China’s fastener output was about 3.2 million tons in the first half of 2011, of which, 1.2 million tons fasteners were exported. It was estimated that the total output of fasteners in 2011 can reach about 6.5 million tons, 5% increased than in 2010.

Though global economy was recovering from financial crisis and development was the mainstream, China’s fastener industry still confronted a series of problems like inflationary pressure, the soaring of commodity price, capital retrenchment, the fluctuated price of production materials, and the new pressure brought by labor and environment protection, which made small and medium enterprises especially feel difficulty.

Under such a situation, Mr. Feng Jinyao, president of China Fastener Industry Associaiton, put forward that China fastener industry must realize current situation, grasp the chance of transformation, and strengthen technology innovation and product structure adjustment to boost development.

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