Fastener Export of China Reached US$2.202 Billion in the First Half of 2011

China Central Television “Focus Interview” program put its focus on China fastener industry for the first time and introduced how the fastener industry returned to the EU from the economic distress. Although the return was a long journey, they finally won the victory. China General Machine Components Industry Association (CMCA) also announced its 12th 5-year plan on the same day. In the plan, CMCA proposes that when the international trade becomes well again, China should focus more on export when it is trying to satisfy the domestic market and actively adjust the sales and operation of its export, making the export structure reasonable.

According to the customs, the fastener export of China in the first half of 2011 was US$2.202 billion. The victory in the antidumping case in the EU even eliminate the trade barrier for export. Though the EU hasn’t amended its trade regulations yet, the EU cannot levy high antidumping duties against China under the ruling of WTO. For China, this is definitely an opportunity to get back to the European market. Some experts expect that the fastener export of China in the following 2-3 years will exceed US$2.5 billion.