At present, it is the best time for China and the U.K to do business

During September 11-12, the Fastener Exhibition and Conference was held in Birmingham. Journalist of ChinaFastener.com came to this exhibition with the lastest issue of ChinaFastener Magazine 華人螺絲.

Organized by Prysm, the biggest exhibition company in the U.K, more than 70 exhibitors were from fastener industry. 45 of them were from China.

Exhibits were mainly used in automobile, aviation and construction industry. During the exhibition, over 50 seminars were held, such as Nuts and Bolts of Industrial Marketing, the Importance of Fasteners: From Conceptualisation to the Manufacture of Electronics, Fibre Optic and Lighting Systems, the Application of Technology to Aid Fastener Insertion for Aerospace Application.

Birmingham is the second largest international city in the U.K., following London. It is located in the artery of railway connecting London and Liverpool. It is a prosperous and dynamic area with over 1900 international companies.

Birmingham is one of the most important manufacturing center in the U.K., and is also one of the biggest industrial area in the world. Main industries include machine tool, instrument, compartment, plane, chemistry, military, etc. It is estimated that 25% of export goods were made in Birmingham.

The U.K is the cradle of modern industrial revolution. Manufacturing plays an important part in U.K’s economy. It accounts for 10% of the total added value of the U.K, 54% of the export value. More than 2.5 million people are engaged in manufacturing industry. Steel, pharmacy, aviation, machinery, military and environment science are U.K’s leading industry.

Aviation is the best industry among manufacturing industry. It places the second in the world, following the U.S., and the first in the U.K. It accounts for 17% of the total income of avivation in the U.K. More than 237,000 people are engaged in this industry.

The U.K is the most diversifed automobile production base, which is known as “U.K’s Detroit”. Automotive research is in the leading position of the world. Almost all famous automobile enterprises have branches in the U.K, such as Honda, Toyota, BMW,etc.

Meanwhile, U.K’s manufacturing faces a lot of challenges, such as globolization, financial crisis, problems due to relying too much on service sector. Therefore, since 2008, U.K government put forward High Value Manufacturing Strategy, hoping U.K enterprises can produce more high value products in U.K.

In January 2012, U.K’s government started the research of U.K Industry 2050, and the final version of the report – the Future of Manufacturing: Opportunities and Challenges that U.K Faces came out in October 2013. In this report, manufacturing means service plus manufacturing.

On January 23, 2017, the Green Book Modern Indusrty Strategy was officially published, aiming to upgrade living standard and boost economic development by enhancing national production.

Through a series of policies, U.K’s manufacturing shores up to some extent. China is the 5th largest trading partner of the U.K. According to the latest statistics, trade value between China and the U.K has achieved 68.5 billion pounds. Mr. Liu Xiaoming, Chinese ambassador to Great Britain stated that China and the U.K shall seize the opportunities created by the 4th industrial revolution, China’s opening up and the Belt and Road.

With the good development trend of China and U.K business, export value of Chinese fastener to the U.K also increases. In 2017, Chinse fastener accounts for 7% of U.K’s total import of fastener. In 2018, Chinese fastener accounts for 9% of U.K’s total import of fastener.

At present, it is the best time for China and the U.K to do business. Ms. Gao Yan, chairman of C.C.P.I.T said “ International situation changes a lot, but the relationship between China and the U.K is developing steadily. At the starting line of the new era, trade and investment between China and the U.K will develop very fast.”