By | 2008-03-08 00:00:00
It was reported that the European Commission has received a complaint on protection against dumped imports from countries not members of the European Community alleging that imports of certain fasteners of iron or steel, originating in the People's Republic of China are being dumped and are thereby causing material injury to the Community industry. The investigation will determine whether the product concerned originating in the People's Republic of China is being dumped and whether this dumping has caused injury. The investigation will be concluded, within 15 months of the date of the publication of this notice in the Official Journal of the European Union. The complaint was lodged on September 26th 2007 by the European Industrial Fasteners Institute on behalf of producers representing a major proportion, in this case more than 25 %, of the total Community production of certain fasteners of iron or steel. The product allegedly being dumped is certain iron or steel fasteners, other than of stainless steel ie wood screws excluding coach screws, self tapping screws, other screws and bolts with heads whether or not with their nuts or washers, but excluding screws turned from bars, rods, profiles or wire, of solid section, of shank thickness not exceeding 6 mm and excluding screws and bolts for fixing railway track construction material and washers, originating in the People's Republic of China normally declared within CN codes 7318 12 90, 7318 14 91, 7318 14 99,7318 15 59, 7318 15 69, 7318 15 81, 7318 15 89, 7318 15 90, 7318 21 00 and 7318 22 00.
By | 2008-03-08 00:00:00
Beijing party chief says capital economy not to decline after 2008 Olympics 2007-05-23 08:05:33.0 Beijing's party chief said that the economy of the Chinese capital will not slow down after the 2008 Olympic Games as investment and consumption will continue to soar. "There may be less construction in the downtown Beijing, but new construction will boom in satellite cities after the Games," said Liu Qi, Secretary of the Beijing Municipal Committee of the Communist Party of China (CPC), at the city's 10 the CPC Congress on Friday. Beijing's per-capita gross domestic product (GDP) will rise to 10,000 U.S. dollars after the Games from the current 6,000 U.S. dollars, which will greatly enhance people's consumption capability, Liu said. "Neither investment nor consumption will drop, thus the economy of Beijing will not decline in the post-Olympic period," said Liu. Some media have reported that a bubble economy is being witnessed in the Chinese capital which has poured huge investment in real estate and other Olympic-dependent industries, which will become unnecessary after the Games. Beijing is also blamed for the lack of renovation spirit, while some of its state-owned enterprises are still trapped in a sorry plight. Beijing's GDP grew at an average rate of 12.1 percent over the past five years. Its GDP totaled 772 billion yuan last year, and GDP per capita was 6,210 U.S. dollars. In the next five years, the municipal government will strive to score an average GDP growth rate of nine percent, according to Liu. The 2008 Olympic Games will also bring great opportunities for the city's tourism and exhibition industries, said Liu, citing Barcelona, the host city of the 1992 Olympic Games, whose number of tourists doubled after the Games. Beijing now attracts about 3.9 million overseas tourists each year. Liu, also president of the Beijing Organizing Committee for the 2008 Olympic Games, vowed Beijing will go all out to make the 2008 Summer Olympic Games a big success. "The 2008 Summer Olympic Games is a top priority on the government work agenda for this year and next," he said. (source:xinhuanet)
By | 2008-03-08 00:00:00
Since this year, many factors have affected the fastener industry, such as the appreciation of RMB, the lower export rebate, the growing cost of raw materials and labor and the scarce of resources, which showed it's inevitable that private fastener companies have to change their old manufacturing models. Due to the fiercer competition and scarcer resources, entrepreneurs have paid more attention to the faster reshuffling of their enterprises, so as to reinforce their competitiveness and expand influence in the fastener industry. In the new market, the competition arena for the fastener enterprises has changed a lot. First, the advantages of resources like land and labor cost are not prevailing any more. Second, along with the globalization of market, the competition has extended to overseas. Finally, the current managerial system and competition pattern are not suitable for the new market. In most private enterprises, at present, once an important decision needs to be made, the boss always has the final say to it. And, instead of long-term initiatives, some enterprises usually adopt short-term initiatives like increasing annual salary to attract and inspire employees. In addition, in the terms of applying the modern managerial methods, only a few enterprises established auto-office system, and they still lack specific plan of their own resources. Some insiders point out that the modern management system is the foundation and guarantee of the successful reshuffling of enterprises, through which the execution can be improved and the reshuffling strategy carried out. Nowadays, with the globalization of market, the competition among products has shifted to the command of industrial chain. Seeing the reshuffling wave in private fastener industry, we have good reasons to believe that there will emerge a new batch of fastener groups. From www.chinafastener.com Translated by Alan
By | 2008-03-08 00:00:00
Gov't to raise export taxes 2007-05-21 08:02:34.0 BEIJING, May 18 -- China will raise export taxes by 5 to 10 percent on a range of products, including steel, aiming to slow the country's export boom and ease the country's trade surplus, government sources said yesterday. Beijing also plans to further reduce tax rebates on some exports, including some basic materials and textiles. It would remove import taxes on coal and reduce import taxes on other raw materials, according to officials from three government bodies - the National Development and Reform Commission, the Ministry of Commerce, and the State Administration of Taxation. "The plan has already been established basically," said a source in Beijing, noting that the changes could go into effect as early as June 1. China's exports of steel products hit a record 7.16 tons in April, as mills and traders raced to beat a change in export policy that took effect on April 15. China removed export rebates on most types of steel products while reducing the rebate on more value-added products to 5 percent. A proposal to raise the export taxes on steel billet and other semi-finished products to 20 percent has been discussed since early May, but has not yet been approved by the central government, a source said. (Source: China Daily)
By | 2008-03-08 00:00:00
The History of the Bolt & Nut Industry of America 1905 is now available to order on-line. Just click on the American Fastener Journal website home page and the book tab is located on the right side under the FASTENER NEWS NOW tab. Click on and print out the order form and fax it to the attention of Mike McGuire at fax number 480-563-1468. Your book will be shipped immediately by priority mail. The book is a "great read" or a wonderful gift for someone in the fastener industry" commented Mike McGuire the producer of this re-printed book from 1905. The book includes 160 list of manufacturers, 268 table of contents items, 402 pages of text and 53 illustrations. This is a limited edition book and once they are sold-out they are gone. Books will be available for sale at the National Industrial Fastener Show/EAST & WEST.
By | 2008-03-08 00:00:00
China has become the most significant single market in Asia for the German-based Koelnmesse GmbH, one of the world's largest trade fair organizers, according to its vice president Asia Pacific Michael Dreyer on the sidelines of Carbon Forum Asia 2007, which opened in Singapore today. "We have about 50 percent of our Asian business originating in China. If you look at all Asia Pacific, everything that comes from China or we do in China are very substantial," he said in an interview with chinadaily.com.cn. With a wholly owned subsidiary in Beijing, and branches in Guangzhou and Shanghai respectively, Koelnmesse holds seven to eight trade shows in China every year. Widely acknowledged as a global leader in the field of tradeshow organization, Koelnmesse has over 60 successful international trade fairs a year to its name. "We have been expanding (in China) all the time," Dreyer said, adding that his company has tripled its exhibition area and revenue generated in China since 2002 when Koelnmesse set up its first office in the country. "We have been growing by about 25 percent over the last five years almost every year. I would like to expect that this number can be maintained at least for next year or the year afterwards," Dreyer said. In 2006, Koelnmesse's revenue from China totaled about 15 million euros (US$21.7 million), accounting for about seven percent of its record worldwide revenue of 216.1 million euros. To take a bigger slice of the booming market in China, Koelnmesse is trying to get more Chinese customers to its trade fairs held in Germany, and is also seeking opportunities to hold more exhibitions in China, according to Dreyer. As China's overall economy sizzles ahead, the country has developed five exhibition-related economic belts up to now. They are the Yangtze River Delta, Pearl River Delta, Bohai Rim, Central and West China, and Northeast China. Koelnmesse has secured a foothold in the first three belts with a string of well-established regular trade fairs, as the majority of its current customers are there, said Dreyer. As the Chinese market develops further and customers from central, western and northeastern China grow in number, his company will consider opening offices in those areas too, he added. Carbon Forum Asia 2007 is a trade fair jointly organized by Koelnmesse and the International Emissions Trading Association. The two-day event, bringing together 110 leading companies and organizations from 26 countries, serves as the major platform for emissions trading, carbon abatement solutions, greenhouse gas market, and new technologies.
By | 2008-03-08 00:00:00
The general manager of INDEX (GERMANY) DALIAN MACHINE TOOL LTD. said in the sixth China International Equipment Manufacture Exhibition that the magnetic of China's market is going to bigger and bigger, they were making efforts continuously to strive for much more market shares in China. In 2001, INDEX invested $1,700,000 to found an joint venture together with Da Lian Machine Group. "The develop speed and sales figures are rising perpendicularly these years, the sales in China last year amounted to RMB100,000,000."The general manager said. In the scene of the sixth exhibition, Jiang Qi, the booth responsible officer of American Haas Automation, Inc, said that their company transported whole sets of new-model machines specially from America to exhibit this time. Jiang Qi said that Hass has established their chain stores which integrate machine sales, service, maintenance and spare parts. That is the second exclusive agency of Hass in China. It's known that there were 139 overseas enterprises and foreign-found enterprises taking part in this exhibition, taking up 596 booths which is 31% of the total. Except for American Hass, Japan Shenjingji, Germany Siemens, Sweden Qianshao etc. world famous equipment manufacture enterprises who attend the exhibition continuously for many years, there are some other famous enterprises both at home and abroad beginning to pay attention to and attend the equipment manufacture exhibition. Among them, Beijing Tiantian Mould Co., Ltd which is invested by Tiantian applied for 135m of the exhibition booth, mainly showing their numerical control machine tool. There are many other enterprises attend the exhibition for the first time. It's also known that after the Economic& Commercial Section of the Embassy of America in China and their consulate-general in Shenyang organized some American enterprises in China to attend the exhibition for four times, American exhibition group confirmed 624m2 of booth this time. American commercial manufacture group and Embassy of America in China also officially put the equipment manufacture exhibition into the important Chinese exhibition lists they support. They also planed to organize American local enterprises in large-scale to attend the seventh equipment manufacture exhibition in 2008. www.chinafastener.com
By | 2008-03-08 00:00:00
Gulfnews reported that UAE builders would have to pay more for building materials as import costs from top supplier China have increased and sea freight rates are rising. China, which supplies an estimated one third of materials such as timber and steel to the country, has cut the rebate it provides to its construction material exporters. At the same time, freight rates for containers from East Asia to Dubai have risen about 85% since May 2007. Mr Rizwan Sajan chairman of building materials company Danube said that "We are expecting 12% to 15% increase in shipment costs between now and September." Mr Sajan said the Chinese government has reduced the subsidy it provides to timber exporters from 11% to 5% since the beginning of July 2007. Chinese steel exporters no longer enjoy 8% price support since April and factory owners of sanitary wares and hardware have seen their subsidy being cut from 13% to 8%. Mr Mohammad Fakhouri GM of construction firm Oger Dubai said that rising costs were a concern for all builders in the UAE.
By | 2008-03-08 00:00:00
Bromsgrove, Worcestershire (PRWEB) November 1, 2007 -- China's automotive components industry is experiencing rapid growth on the back of a soaring vehicle manufacturing sector, but the local parts industry faces challenges ahead and is weak in some areas, according to research undertaken by automotive industry website just-auto.com. just-auto's research estimates that the Chinese parts and accessories market is growing at an impressive 15% a year. Some 80% of that market is accounted for by OE supply to local vehicle manufacturers. China is still the land of opportunity for the global auto industry - for vehicle makers and component companies alike. But it is also fraught with problems, and although labour costs are still the lowest on offer, China perhaps does not represent the best option for companies looking to source from low-cost countries. The report notes that research and development (R&D) capabilities among Chinese component companies are very weak, with many spending less than 2% of their budget on R&D compared to a typical figure of 5-10% among foreign companies. Global sourcing from Chinese suppliers is also fraught with difficulties. Quality remains an issue - aside from the most basic mechanical parts, few Chinese companies have the R&D capability to engineer complex parts - though the larger local suppliers are starting to develop these skills. Some are even opening local offices in Europe and North America to help communications. In any case it would seem essential to have a representative office in China in order to keep closer contact with suppliers. The issue of intellectual property rights also has not gone away, just-auto says. China may have moved past outright design piracy of entire cars, but design theft of components is still rife, appears to be culturally acceptable, and is almost impossible to police. And despite the low labour costs, other Chinese costs are not so advantageous, according to just-auto's research.
By | 2008-03-08 00:00:00
In the past, as there were quality problems in fasteners, most of the fastener products could only access the maintenance and fittings markets. Nowadays after innovation, a group of leading fastener enterprises in Zhejiang Province are no longer the same as the situation in the past in terms of equipment level, technical level, product grade, service level and R&D capacity. After interviewing some small and medium-sized fastener enterprises in Zhejiang, a reporter noticed that those fastener enterprises featured small and household workshop at the beginning has greatly improved in aspects of profession, differentiation, technical contents, quality, etc. It indicates that these enterprises have begun to make their "second choice". According to the main economic indicator of China fastener industry in 2006, the overall profit level of domestic enterprises was relatively low. The profits of quite a few enterprises were less than 3%, which is related to their small scale, and low technical contents of the products. Insiders hold the view that a lot of small and medium-sized fastener enterprises have not walked out the traditional profit mode and still keep the old practice¡ªlow cost, low price, low technical contents, and low value-added. It is definitely a kind of choice, but not a long-term and strategic one. What small and medium-sized enterprises need is their "second choice". In Wenzhou, Ningbo and Haiyan where private-owned fastener enterprises gather, over 50% of the products that most of the small and medium-sized enterprises produce are the low-end standard fasteners. They are of low technical contents and have competitive price. However, they lack core technology and their own feature, so their competitive strength is accordingly weak. The enterprises that reporters visited all consciously transfer to produce products of high technical contents and high value-added. These enterprises share the same background: Developed from machine parts and established in the late 1980s. Nearly 20 years of accumulation, they begin to step into the pattern-transforming phase. They access the automotive fittings system and therefore achieve progress in terms of technical upgrade and management. Some enterprises have passed ISO/TS 16949, which is considered as an essential passport when products are fitted for domestic machines or exported to overseas market. Insiders also maintain that the profit space of fastener industry will become smaller and smaller under the tight competition environment. The expansion of low price results in the expansion of low profits. Before long, enterprises will find little space for their existence. Therefore, small and medium-sized fastener enterprises have to make their second choice and step into the mid and top-end market. Four transitions should be carried out in fastener marketing idea: From simple product operation to market operation; turn the focus from machine factory to distributors and serve for customers; from single market body to multi-market groups; their attention to domestic market exclusive turns to both domestic and international markets.
