TFTA 2018 Spring Gala

Taiwan Fastener Trading Association (“TFTA”) held the 2018 Spring Gala on Feb. 24th at Windsor Hotel in Taichung, inviting over a hundred of its members to celebrate. TFTA’s new chairman, Jimmy Chang played the host in the banquet, and Taichung City mayor Chia-Lung Lin was invited to give a speech, wishing everyone a happy Chinese New Year. The event it was filled with a joyful and cheerful atmosphere and had a successful ending.

In the Spring Gala, TFTA invited former CMCA Fastener Subdivision president Jing-Yao Feng and the chairman of Grand Fortune Securities Xian-Hua Huang to give speeches on China’s development conditions and 2018 global political and economic situations respectively, and they both gave advice for the fastener industry. Firstly, in Feng’s speech on “China’s fastener development conditions and future prospect,” he described that since China’s economic reform many countries have been investing a lot in China, while many Chinese companies have also paid a visit to overseas markets to learn their experience in industrial innovation and transformation, trying to establish mutual collaboration with the global fastener industry. However, in such a globalized market, China still has to deal with issues like low added value for their products and low technology level. Other than that, uneven industrial distribution and the rise of global protectionism have both led to China’s current challenges as well. Therefore, for the past few years, China’s government has been strengthening its innovation skill, speeding up the industry 3.0 and following up the Industry 4.0. As for Taiwan, which is also in the process of transformation, many businesses are now challenged by China’s increasing influence in the market. For this reason Feng acclaims not only Taiwan and China should work with each other, but also the global fastener industry should work together to enhance collaboration and strive for mutual prosperity.

In the second topic “2018 Global Political and Economic Situations,” Huang reported the analysis of the integral and fastener industrial conditions by market index and explained the recovery of the global economy. In terms of Taiwan fastener market, he noted “a rather steady growth in recent years”; but he also noted “facing the global situation, which may be positive or negative to the fastener industry, the fastener industry should remain flexible in business running strategies and increase their capital investment and win over more profitable orders.

After the speeches, the gala continued with an event of “new directors and supervisors appointment ceremony.” New chairman Jimmy Chang showed his warmest welcome to them and also acclaimed TFTA would continue to participate in int’l association events to facilitate global trade activities and gain publicity for Taiwan in the market, and also would encourage the interaction among TFTA members. This annual Spring Gala built a successful interaction and through the speeches every member did learn a lot. With the pleasing atmosphere everyone hoped that there would be more opportunities for collaboration in the future and the 2018 Spring Gala ended with a perfect closure.