China's domestic fastening castings strive to achieve international standards

China's fastening casting products are exported to all countries in the world, and fastening casting products from all over the world are also pouring into the Chinese market. Fastening castings, as one of the products with large import and export volume in China, are of great significance and strategic significance to promote China's fastening casting enterprises to the world and promote the participation of fastening casting enterprises in international cooperation and competition.

There are more than 7000 fastening casting enterprises, large and small, in China. In 2007, the output of fastening castings reached 5.25 million tons, accounting for more than 1/4 of the global output of fastening castings. The output has been firmly in the forefront of the world for many years. However, at present, most of the fastening castings produced in China are low-strength and low-grade products, of which ordinary low-grade standard fastening castings below grade 8.8 account for about 45%-50%.

The global fastening castings are mainly used in the automotive industry, the electronics industry and the construction and maintenance industry. Among them, the automobile industry is a large user, the demand accounts for about 23.2 of the total sales of fastening castings; followed by the maintenance industry market and the construction industry, accounting for about 20% of the total sales of fastening castings; the third is the electronics industry, accounting for about 16.6 of the total sales of fastening castings.

In recent years, the global market demand for fastening castings has increased by an average of about 5.0 per cent. In the next few years, the global fastening casting industry will enter a period of steady development. According to statistics, in 2010, China produced about 6 million tons of fastening castings, with exports reaching US $4 billion and imports reaching US $28.7. It is expected that this figure will continue to grow in the next few years.

At present, my country has exported fastening castings to more than 50 countries (regions), of which the number of exports to the European Union, the United States, and Australia is large. The top six countries and regions for export are the United States, Japan, the United Kingdom, and the United Kingdom. Italy is fifth and Hong Kong is sixth. Among them, the sum of exports to the United States, Germany and Japan accounts for 1/3 of total exports. In 2007, China exported 2.57 million tons of fastening castings, accounting for 48.95 per cent of the year's output.

China is a trading country for Japanese fastening castings. Before November 2011, Japan's imports of fastening castings from China accounted for more than 50% of Japan's total imports of fastening castings, and Japan's exports to China accounted for about 25% of Japan's total exports of fastening castings. According to the annual questionnaire survey of 600 large Japanese manufacturing companies conducted by the Japan Bank for International Cooperation, China ranks first in the areas of overseas investment every year, especially in the western region of China.