Bacheng Hardware Auto Parts Co., Ltd. is expected to export higher in the first half of next year

Abstract Global Sources B2B platform providers for the first half of 2014, domestic exports of the latest survey, 48% of export earnings suppliers are expected to grow 10% -20%, of which 75% of hardware and auto parts suppliers are expected next year The first half will get higher...
According to the latest survey of domestic exports by B2B platform provider Global Sources in the first half of 2014, 48% of suppliers expect export earnings to increase by 10%-20%, of which 75% of hardware and auto parts suppliers are expected to be next year. In the first half of the year, it will receive higher export earnings. “Owned brand production OBM and original design and manufacturing ODM” has become the primary factor for the growth of orders in these industries.

The report also shows that domestic suppliers are gradually shifting from contract manufacturing mode to independent brand production. The increase in the number of orders indicates that the company's efforts to transform both sides of the smile design "design and brand" are being recognized by the US and EU markets.

The survey covered 529 Chinese exporters in China, including electronics, apparel and fashion accessories, home products, hardware and DIY. Among the 529 suppliers, most of them are from Guangdong, followed by Zhejiang, Fujian and Jiangsu. Nearly 60% of the respondents are medium-sized enterprises with annual incomes of 1 million to 5 million US dollars.

According to the survey, more than 65% of the surveyed suppliers expect export earnings in the first half of 2014 to increase compared with the same period in 2013. From the industry point of view, the hardware and auto parts industry suppliers are the most optimistic, only 8% said that revenue will decline. Manufacturers in the household goods and gift industry continued the “pessimistic” forecast of the previous survey, with more than 20% of suppliers expecting a decline in revenue.

Some exporters are also gradually shifting from contract manufacturing mode to independent brand production. Zucker, President of Global Sources Corporate Affairs, said: "The transition from producing cheap products to manufacturing high-quality products is an inevitable stage of China's export industry. Even though other low-cost manufacturing bases are emerging, high-end manufacturing and independent brand production OBM. And the original design and manufacturing of ODM will ensure China's status as a world exporting power."

It is worth noting that the appreciation of the renminbi remains the biggest challenge for suppliers to consider export growth. The EU region and the United States still firmly lock in the largest export market for Chinese-made products, with a combined market share of more than 50%.

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