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Fastener Fair USA Closed its Curtain in Detroit

By CFM , 2019-05-24 12:00:00

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From May 22nd to 23rd, Fastener Fair USA was held in Detroit. Journalist of came to this exhibition with 25th ChinaFastener Magazine 華人螺絲.

There were more than 260 exhibitors, which mostly were American local enterprises. Chinese enterprises included: Beijing Jinzhaobo High Strength Fastener Co., Ltd., Cixi Hexie Fastener Co., Ltd., Laizhou Ruifu Auto Parts Co., Ltd., Ningbo Jinding Fastening Piece Co., Ltd.


Beijing Jinzhaobo High Strength Fastener Co., Ltd.


Cixi Hexie Fastener Co., Ltd.


Laizhou Ruifu Auto Parts Co., Ltd.


Ningbo Jinding Fastening Piece Co., Ltd.

Detroit is a famous industrial center throughout the world, which is known as “the Motor City”. Headquarters of Ford, GM, Chrysler are located here. Other important industries include steel, airplane, tank, chemistry and metal processing, etc.

According to statistics published by General Administration of Customs, P.R. China, in 2018, China’s export value to the U.S. rose by 11.3% and import value from the U.S. rose by 0.7%. China reserved large trade surpluses with the U.S. with year on year growth of 17.2%, which the amount was US $ 323.32 billion. In contrast, the U.S. trade deficit with China increased to US$ 621 billion, which was the highest standard since 2008.

China’s international markets have become more diversified. Driven by “the Belt and Road”, in the first four months, China’s export to EU, ASEAN, Korea and Russia respectively increased by 14.2%, 13.4%, 7.7% and 9.1%.

As the conflict between China and the U.s. becomes more intense, China’s export enterprises are actively developing other markets. For example, there are more than 17,000 export enterprises in Ningbo, Zhejiang, which 90% is small and medium sized, and 80% of them exports goods to the U.S. In the first quarter of 2019, the percentage of exporting to the U.S. only accounted for 20%. In the top 10 trade partners, apart from the U.S., the rest increased to some extent, especially in ASEAN, Rassia and Brazil markets, which respectively increased by 22.3%, 51.7% and 23.9%.

Mr. Liu Shijin, former deputy director of Development Research Center of Development Research Center of the State Council said “We should take an objective and rational look at the current challenge. The upgrade of the China-US trade war will indeed affect the export of goods, or even put heavy burdens on economy in a short term, but the influence is limited.”


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