Projection of Domestic Chinese Fastener Sales in 2014

2013 was a year of change for the fastener industry. To view from the macro economy, the increase margin of gross domestic product (GDP) will slow down, but the urbanization will accelerate. During the third plenary session of the 18th Central Committee of the Communist Party, the new government has thrown out the signal of a series of reforms. 2013 was also a year of transformation. Facing subsequent difficulties like the tightening of currency policy, gloomy market demand, slow global  economic recovery, and the prevalence of trade protectionism, many fastener companies started off the business transformation and continuously made adjustments and changes, thus achieving the final satisfying results.

In 2013, the fastener industry maintained a slight and stable growth. The total production of fasteners in 2013 is expected to reach 6.8 million tons, up 3% from the same period last year. According to the data of Chinese customs, the fastener export of China during Jan.-Nov. 2013 was 2.3353 million tons (about USD4.195 billion), while the fastener import was 248.4 thousand tons (about USD2.741 billion). The structure of regional investment has been improving since 2013 and the coordination of investment has been also strengthened. It is expected that the business transformation in 2014 will become the critical force to drive the growth of investment in Western and Central China. In the domestic markets, machinery, automobiles, hardware, construction, electronics, and railways will still be the main developmental directions for the fastener industry in 2014.