According to the statistics from the Fastener branch of China General Machine Components Industry Association, in 2001, the total global demand for fasteners is 36.35 billion US dollars. In 2006 it reached 46.35 billion US dollars, 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 all have increased the demand for fasteners significantly.
The Ministry of Commerce of PRC's statistics on January 20 show that China's total import and export volume have 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, China's exports ranking second in the world. At the same time, the foreign countries have increased the demand for Chinese fasteners year by year, such as the United States, Japan, Germany, France, Britain, Canada, Italy, South Korea and Spain.
