Jiaxing Fasteners Industry Continues to "Fallow" in 2011

Thanks to the sustained recovery of the world economy and the steady development of the domestic economy, the export of fasteners in Jiaxing City achieved rapid growth in 2010. Zhang Feng, deputy secretary-general of the Jiaxing Fasteners Import & Export Enterprises Association, told the author yesterday (March 3) that the fastener industry in Jiaxing last year won not only international lawsuits, but also expanded emerging markets such as “Brick” countries. Since the beginning of this year, the fastener exports of the city have continued the momentum of rapid growth last year. In January, the export value was 84.36 million US dollars, an increase of 55.79% year-on-year.

Last year, the total import and export of fastener products reached 80,152 million US dollars, an increase of 51.44% year-on-year, including exports of 7,799,500 US dollars, an increase of 51.80%. “Accelerating the recovery of export recovery, further increasing market diversification, and increasing export unit prices are the main features of the fastener exports of Jiaxing City last year,” said Zhang Feng. According to statistics, the export value of fastener products in Jiaxing last year accounted for 48.67% of the province.

In the eyes of people in the industry, the global economic recovery is the main driving force for the rapid growth of fasteners exports in Jiaxing. Since 2010, consumption and investment in major developed countries have gradually recovered. The EU debt problem and the huge fiscal deficits of some countries are generally within a controllable range. According to statistics, the export of fasteners to the EU in Jiaxing City in 2010 increased by 72.33% year-on-year. In addition, the rapid growth of exports also benefits from emerging markets such as the BRICS. At the same time, in response to the financial crisis, the Chinese government introduced a series of policy measures to support the development of foreign trade, and it also drove the rapid growth of the export of fastener products in Jiaxing.

In response to international trade relief surveys, the success of the news has also provided confidence for the fastener companies to resume production. Following the success of China's fastener industry in responding to the United States' "double reverse" investigation on fasteners in China in 2009, the fastener industry responded to international trade frictions in 2010 again: June 28, 2010, the Ministry of Commerce announced to the European Union. Imported fastener products are taxed; on August 10th, the WTO preliminary ruling that the EU levied high anti-dumping duties on fastener products in China was illegal; on December 3, the WTO once again ruled that the EU imposed anti-dumping duties on China's fasteners. Practices violate WTO regulations.

The company's active transformation and upgrading also increased the added value of fastener products and increased its competitiveness. Such as Jinyi Industrial Co., Ltd. relying on high-speed railway construction, invested heavily in research and development of high-speed rail fastener technology, and developed new fasteners for high-speed rail. Both Zhejiang Qifeng Hardware Co., Ltd. and Zhejiang New Oriental Fasteners Co., Ltd. have established railway product R&D centers and obtained railway product procurement access certificates issued by the Shanghai Railway Bureau.