So far, there are more than 7000 fastener manufacturers of various sizes in China. In terms of export amount, foreign enterprises still dominate. In the export figures, a large part of the products come from the production bases of joint venture automobile fastener manufacturers in the mainland.
On the one hand, most of the profits of fastener export fall into the pocket of multinational companies. On the other hand, China will bear more and more pressure in the global market. Foreign countries can hold up the "big stick" of anti-dumping at any time to "block" the export road of China's fasteners.
In recent years, multinational companies from the United States, Japan, South Korea, India, Germany and other countries have come to China to set up factories. Nearly 100 fastener factories in Hong Kong have been relocated or newly built in Shenzhen and Dongguan, followed by the automobile fastener manufacturers in Taiwan. This will certainly promote and improve the overall level of the automotive fastener industry.