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Low Cost Production, the Breach to Achieve Spring Up of China Fasteners 

Source:CHINA DAILY  Writer:佚名  Publisher:匿名   Date:2007/4/23 12:53:58

 
"When pursuing the opportunity of low cost production, fastener enterprises should attach great attention to quality, by which the market share will be expanded. Fastener enterprises should keep expanding domestic market, and besides, they should strive for the international market at the same time."

"We receive foreign guests almost every week. We can feel their strong desire to buy fasteners from China." A manager of a fastener enterprise in Haiyan said.

Foreign trade companies on automobile and machinery show stronger desire to cut the cost. As a result, buying fasteners from China becomes a trend.

According to the statistics from China fastener association, the output of China fasteners in 2006 reached 4.3 million tons, increased by 14% compared with 2005. And the growth rate of exported fasteners was over 30%. Everything comes so fast. For years, China fastener industry had depended on/focused on local market, but now, it has found its own place.

We cannot deny the fact that the production scales of China fastener enterprises are not large enough and the enterprises are weak in R&D capacity. They mainly sell low-end and cheap standard fasteners. Based on this point, quite a few fastener people maintain that China fasteners should not rely on low price. Only if China fasteners enter the middle and high-end global market can they receive respectable margins and brand fame.

Generally speaking, although China fasteners for export are the labor-intensive products, we can feel that China fastener products are upgrading. Some foreign companies might find a lot of risks when they buy fasteners from China, problems such as quality and delivery cycle, but if those foreign companies do not start to buy from China and then give up accumulating sources and experience, they will miss the best time. China is believed to be the fastener supply base with considerable technical contents and function module in several years.

Five years or ten years later, perhaps not all multinational fastener companies can survive or succeed in China. Moreover, not all the local fastener brands will disappear. The key point for multinationals and local enterprises is exerting their own advantages. In the face of increasing multinational fastener companies, can we create our unique competitive edge? After all, local fastener enterprises do not take advantages in technical contents and levels. The factor that influences the competition pattern is not the enterprises themselves, but the market demand.

When pursuing the opportunity of low cost production, fastener enterprises should attach great attention to quality, by which the market share will be expanded. Fastener enterprises should keep expanding domestic market, and besides, they should strive for the international market at the same time. In the fierce market competition, China fastener enterprises should make efforts to improve their capacities in product development, quality control, communication, creation and lean production. With advantage of "inexpensive in price while excellent in quality", it is time for China fastener enterprises to show off in the worldwide low cost competition.

 

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