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At the end of the month, the 103rd session of the Canton Fair concluded with news from the Canton Fair that export turnover increased by 5.1% over the same period of 2007. Although major export markets such as the European Union, the United States, Hong Kong, Taiwan, South Korea, and Japan attended the meeting, they have declined to varying degrees compared with the previous session, while buyers from the Middle East, ASEAN, and emerging markets have generally grown. General standard parts and fasteners are active in emerging market countries.
At present, the appreciation of the renminbi, the implementation of the labor contract law, and the reduction of the export tax rebate rate are referred to by the fastener companies as "three mountains." When the cost rises dramatically, how to transfer the pressure becomes a pain in the heart of the fastener company. In the next 5-10 years, China's fastener companies will not enjoy the "distortion" of low-cost advantages, mainly reflected in energy and raw materials, the environment, capital, labor, land and other five aspects.
In other words, in the next 5-10 years, the cost of fastener companies in this area will rise significantly. Does this mean that China's fastener companies will take off the "low-end manufacturing" label? The answer may not be so clear. But for more and more Chinese fastener companies, rising costs have become a problem that must be addressed. Companies must adapt and digest this change as soon as possible.
At present, the appreciation of the renminbi, the implementation of the labor contract law, and the reduction of the export tax rebate rate are referred to by the fastener companies as "three mountains." When the cost rises dramatically, how to transfer the pressure becomes a pain in the heart of the fastener company. In the next 5-10 years, China's fastener companies will not enjoy the "distortion" of low-cost advantages, mainly reflected in energy and raw materials, the environment, capital, labor, land and other five aspects.
In other words, in the next 5-10 years, the cost of fastener companies in this area will rise significantly. Does this mean that China's fastener companies will take off the "low-end manufacturing" label? The answer may not be so clear. But for more and more Chinese fastener companies, rising costs have become a problem that must be addressed. Companies must adapt and digest this change as soon as possible.
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