Export Value of Zhejiang Minmetals Increased by 25% Year-On-Year
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Established in 1980, Zhejiang Minmetals is the biggest hardware trading company in Zhejiang Province. It has won many awards, such as 'AAA Enterprise', 'Advanced Export Enterprise of Mechanical-Electrical Products', and 'Grade A Management Enterprise'. Its trademark 'CK' is famous in China.
In 2007, problems like frequent fluctuation of steel prices, increasing ocean freight, cut of export rebate rate and appreciation of RMB exchange, etc. heavily squeezed the profit margins of many enterprises.

However, Zhejiang Minmetals Huaxing Import & Export Co., Ltd. created a new record in terms of import and export value last year. According to Sales Manager of Zhejiang Minmetals Mr. Chen Aoshuang, its import and export valued 270.68 million US dollars, a year-on-year increase of 17.04%. The export value was 191.65 million US dollars, a gain of 25.07% year-on-year; the import value was 79.03 million US dollars; domestic trade increased by 28% to 990 million yuan, while export value of fasteners increased by 25% to 25 million US dollars.

Established in 1980, Zhejiang Minmetals is the biggest hardware trading company in Zhejiang Province. It has won many awards, such as "AAA Enterprise", "Advanced Export Enterprise of Mechanical-Electrical Products, and "Grade A Management Enterprise". Its trademark "CK" is famous in China.

CFI: Does your company produce fasteners?

Chen: We establish business relations with a fastener factory. With long term cooperation, they have become an important part of our Zhejiang Minmetals.

CFI: How did you overcome such difficulties as the rise in steel price and the cut of export rebate rate? How did you achieve export growth under this situation?

Chen: We maintained our growth in export last year because many of our regular customers were satisfied with our products and services. Then they increased orders. In fact, we overcame the difficulties in many ways: We finished some orders before the policy was launched; for some orders, we negotiated with customers on price; for the depreciation of US dollars, Euros were required for the settlement; and some orders were priced and quoted by bank's forward deal. For those hard-to-change orders, we'd rather lose profits than break our word. It's certain that we are concerned about the problem on the depreciation of US dollars. The real growth rate of our export volume last year is a little lower than the figures showed.

CFI: Any new plans for the New Year?

Chen: We have advantage in circulation. We collect much information and have many sales channels at home and abroad. We have storage center in many places, such as Hangzhou, Ningbo, Jiaxing, Wenzhou, etc. and learn from the large Japanese company. Our plans include: To develop clients in Africa, Middle-East and South-America. Moreover, we will expand the domestic market and increase our market share. Certainly, we will keep in touch with our regular customers when exploring new ones. In terms of products, we will develop more special fasteners and plastic products. We notice the fierce competition in standard fastener market and get to know the non-standard market is of high potential. We hope to develop more non-standard products to meet customers' needs. In addition, we will strengthen the cooperation with our factories. We will promptly transfer customers' requests and market trend to them and help them introduce new equipment and develop new products, so that the product levels and quality will be further improved.

Translated by Alice
www.chinaFastener.biz
www.chinaFastener.info
2008-02-29

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