"Facing the opportunity of manufacturing low-cost fasteners, we must pay most attention to the fastener quality, through which we can grab more market share to expand domestic market, and strive for global market as well!"
The need of foreign automobile companies and machine companies to cut cost is stronger day by day, thus emerges the trend of buying fasteners from China. According to some statistics from China
Fastener Association, the output volume of fasteners reached 4,3 million tons last year, up by 14% , with the exporting ratio of over 30%. All this came without any prediction, making domestic fastener companies, which have been competing in domestic market for years, find their own direction.
It¡¯s can¡¯t be denied there are some bottlenecks in domestic fastener industry,such as small scale, weak R&D capability, and mass sales of low-profile fastener. Given this condition, some insiders think that domestic fasteners can't regard the "low-price policy" as their core guideline, and only by entering the high-end market all over the world can they obtain more profit and higher reputation.
Overall, the exported fasteners from China currently are labor-intensive products, however, we feel that the level of the entire industry is upgrading. Although there are some problems in the business transaction like quality and delivery time, foreign companies will lose the best time to improve themselves if they won't purchase from China and accumulate resources and experience.
After some five or ten years, maybe not any multinational companies can survive in China, neither can any international fastener enterprises make their name here, but it doesn't mean all domestic fastener brands will disappear. The key point for both to survive in Chinese market is to give their strength a fullplay. Seeing more and more foreign fastener companies rush into China, we must create our own strength to compete with them. After all, in the terms of technical content and technology, domestic companies are legged behind their foreign counterparts a long distance.
All in all, facing the opportunity of manufacturing low-cost fasteners, we must pay most attention to the fastener quality, through which we can grab more market share to expand domestic market, and strive for global market as well! So as to survive in fierce market competition, our domestic fastener companies must reinforce various capabilities like R&D, quality control, innovation and precision manufacturing. We must be aware that in the global market of low-cost competition, the real weapon for us is offering products with excellent quality and reasonable price, which can give our domestic companies a chance to wrestle with foreign counterparts.
Translated by Alan
