Blog Information

2019-10-14

Russia's accession to the WTO benefits Taiwan's fastener industry

Director General of the Bureau of Foreign Trade, Ministry of Economic Affairs of Taiwan, Cho Shih-chao, pointed out that after 18 years of negotiations, Russia has finally been approved to join the WTO (World Trade Organization). Since Russia has been listed as a key market for Taiwan's export expansion in the next two years, Russia's accession to the WTO will lead to a more transparent trade system and lower tariffs, helping Taiwan further seize market opportunities in Russia. According to the Bureau of Foreign Trade statistics, Taiwan's total exports to Russia in 2010 amounted to US$1.08 billion, with a year-on-year increase of 85.8%. Cho Shih-chao described Russia as a "market with amazing growth potential." The Bureau of Foreign Trade said that Taiwan's main exports to Russia include telephones, disk drives, panels, steel screws, and parts and accessories for information products. From 2008 to 2010, the average tariff rate in Russia was 10.3%, the average tariff rate for agricultural products was 15.6%, and the average tariff rate for industrial products was 9.4%. Cho Shih-chao stated that the 8th WTO Ministerial Conference will adopt Russia's accession case, and it is expected that tariffs will begin to be lowered on January 1 next year, with a 2-3 year transition period for tariff reductions, resulting in an average tariff reduction to 7.1%, agricultural product tariffs to 11.3%, and industrial products such as fasteners to 6.4%. It is worth mentioning that Russia has agreed to join the Information Technology Agreement (ITA) three years after accession, and tariffs are expected to be reduced to zero after three years. The Bureau of Foreign Trade believes this is a significant benefit for Taiwan's information and communication technology product exports to Russia.

2019-10-14

China's Fastener Industry Speeds Up Development During the 12th Five-Year Plan Period

The "Twelfth Five-Year Plan" period will be a crucial strategic opportunity for China's fastener industry to transition from large to strong. During this period, China will move from the mid-stage to the late stage of industrialization. The significant characteristics are: cost advantages will gradually be challenged, technological advantages have enormous potential, the marginal benefits of R&D and technological investment will increase, and capital-intensive and technology-intensive industries will face rapid development opportunities. As cost advantages are lost, technological advantages will timely replace cost advantages and take the leading position. Basic parts, such as fasteners, are not only the foundational industry of China's equipment manufacturing industry but also an important foundation for various fields of national economic construction. During the "Twelfth Five-Year Plan" period, while maintaining some cost advantages, the industry must rely on technological progress, quality improvement, and new advantages such as product cost-effectiveness to achieve sustainable development. It is estimated that the total industry output will reach 7.5 to 8 million tons by the end of 2015. Under the general situation of expanding exports, export products will show a fluctuating growth trend. The average annual export growth rate is expected to be 8% to 10% during the "Twelfth Five-Year Plan" period, and the total export value of the entire industry will reach 30 billion yuan by 2015. The domestic market will continue to maintain a good growth trend in fields such as automobiles, agricultural machinery, high-speed rail, metallurgy, power, construction machinery, and basic construction, which will bring broad market space for the growth of fastener demand. ① Automobiles: It is estimated that by the end of 2015, China's automobile production and sales will both exceed 23 million vehicles. According to statistics, a light vehicle or passenger car requires about 500 specifications of fasteners, weighing approximately 50 kg and totaling around 4000 pieces; while a medium or heavy commercial vehicle requires about 7500 fasteners, weighing 90 kg. If calculated at 70 kg per vehicle, the annual demand for automotive fasteners will exceed 1.5 million tons. ② Wind power: The domestic market urgently needs megawatt-level wind turbines. The national plan is to reach a newly installed capacity of 70 million KW by 2015 and maintain a new installation speed of no less than 14 million KW per year. The demand for high-strength fasteners for wind turbines is calculated at 400 kg per KW, requiring more than 500,000 tons of high-strength fasteners annually. ③ Nuclear power: According to the national medium and long-term plan, by 2020, China will start construction on more than 40 million-KW nuclear power units, and the total nuclear power scale will be equivalent to that of 20 Daya Bay Nuclear Power Plants. The annual demand for high-strength nuclear power-specific fasteners above grade 8.8, special material fasteners, and welded rivet products will exceed 80,000 to 100,000 tons. ④ Agricultural machinery: During the "Twelfth Five-Year Plan" period, the total output value of tractors, rice transplanters, harvesters, and other agricultural machinery products will reach 250 billion yuan, and the estimated annual demand for various standard parts and special-shaped fasteners will exceed 150,000 tons, with an output value of about 2 billion yuan. ⑤ Construction machinery: During the "Twelfth Five-Year Plan" period, the social stock of loaders, excavators, road rollers, and other construction machinery products will reach 6 million units, with annual sales of around 50,000 units. The estimated annual demand for high-strength fasteners will be 20,000 to 30,000 tons. ⑥ High-speed rail: During the "Twelfth Five-Year Plan" period, the track mileage of high-speed railways, passenger-dedicated lines, and intercity rail transit will rapidly increase. The estimated annual infrastructure investment will reach 300 to 400 billion yuan, and the annual demand for high-speed rail fasteners will be nearly 300,000 tons.

2022-10-12

What are the characteristics of conveyor chains?

The conveyor chain mainly serves as a conveyor. Due to the various structures of chains, the characteristics of chain conveyors can be summarized as follows: Chain conveyors are suitable for numerous usage environments and requirements. Below, we will specifically discuss the characteristics of conveyor chains. 1. Diverse Conveyor Items: Chain conveyors can convey almost all types of items: bulk materials, such as flour, cement, fly ash, coal, and ore; small items, such as electronic components, mechanical parts, canned and bottled goods; and large cargo, such as complete home appliances, various complete machines (such as bicycles, motorcycles, automobiles), and various boxed goods.