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The China International Hardware Show (CIHS) from 10 to 12 October 2019 in Shanghai is taking place in a favourable industry environment, however also under the impression of the Sino-US trade friction. Generally speaking, China remains a dynamic market, both from a procurement as well as a selling perspective. This is suggested by the figures from the General Administration of Customs of China which have been compiled by the CIHS organisers Koelnmesse.
In 2018, China's exports rose by 7.1 per cent to CNY 16.42 trillion (EUR 2 099 bn) while the imports grew by 12.9 per cent to RMB 14.09 trillion (EUR 1 802 bn). The imports and exports with the top three trading partners, namely the European Union, the United States and ASEAN, increased by 7.9 per cent, 5.7 per cent and 11.2 per cent respectively, all three accounting for 41.2 per cent of China's total foreign trade.
Over the same period, China's trade with the countries along the Belt and Road grew by 13.3 per cent. Imports and exports with Russia, Saudi Arabia and Greece in particular, increased by 24 per cent, 23.2 per cent and 33 per cent respectively.
In the first quarter of 2019, affected by Sino-US trade friction, China-US trade volume decreased by 11 per cent. Meanwhile, the number of imports and exports to EU, ASEAN and Japan grew (EU: 11.5 per cent).
In terms of the hardware market, the situation has changed considerably in recent years: while Chinese exports are stagnating, imports continue to increase. The total import and export value was USD 23.82 bn (EUR 20.96 bn) in 2018. Exports totalled USD 16.23 bn (EUR 14.28 bn), up 0.06 per cent over the previous year, while imports totalled USD 7.59 bn, an increase of 8.91 per cent.
In 2018, China's exports rose by 7.1 per cent to CNY 16.42 trillion (EUR 2 099 bn) while the imports grew by 12.9 per cent to RMB 14.09 trillion (EUR 1 802 bn). The imports and exports with the top three trading partners, namely the European Union, the United States and ASEAN, increased by 7.9 per cent, 5.7 per cent and 11.2 per cent respectively, all three accounting for 41.2 per cent of China's total foreign trade.
Over the same period, China's trade with the countries along the Belt and Road grew by 13.3 per cent. Imports and exports with Russia, Saudi Arabia and Greece in particular, increased by 24 per cent, 23.2 per cent and 33 per cent respectively.
In the first quarter of 2019, affected by Sino-US trade friction, China-US trade volume decreased by 11 per cent. Meanwhile, the number of imports and exports to EU, ASEAN and Japan grew (EU: 11.5 per cent).
In terms of the hardware market, the situation has changed considerably in recent years: while Chinese exports are stagnating, imports continue to increase. The total import and export value was USD 23.82 bn (EUR 20.96 bn) in 2018. Exports totalled USD 16.23 bn (EUR 14.28 bn), up 0.06 per cent over the previous year, while imports totalled USD 7.59 bn, an increase of 8.91 per cent.
The EU has been China's largest trading partner for 15 consecutive years. In recent years, China's tool exports to Europe mainly consist of DIY products for end-users. At the last edition of CIHS, tools accounted for more than 60 per cent of the exhibited products, DIY, fasteners and building hardware for 21 per cent, security, locks and fittings for 11 per cent and garden tools for 5 per cent.
Major Chinese manufacturers are adapting to the changes. They have begun to expand new markets by increasing the proportion of high-grade industrial products…
Major Chinese manufacturers are adapting to the changes. They have begun to expand new markets by increasing the proportion of high-grade industrial products…
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