Great Need For Auto and High-speed Rail Fasteners in China

According to the latest statistics from China Association of Automobile manufacturers, China achieves the goal of 8.9273 million cars output in the first half of 2011(up 48.84% compared to 2010) and 9.0161 million (up 47.67%) vehicles sale. 2011 vehicles output and sale in China will be more than 16 million units. Auto fasteners account for 2%-2.5% of a vehicle value. The amount of 2010 China’s import fasteners is over US$2.1 billion, and most of them are auto fasteners. That means high-end fastener market is huge, especially auto fastener market. Meanwhile, the need for auto and high-speed rail fastening system is growing bigger because of large investments in infrastructure like high-speed rails and subways.