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Impact of financial crisis on stainless steel industry

Release date: August 21, 2020 Number of visits: forty-one

There are many stainless steel kitchenware enterprises in China, and the competition is quite strong. But the important ones are in East China with Zhejiang and Shanghai as the center, North China with Tianjin and Hebei as the center, and South China with Fujian and Guangdong as the center. There are few large enterprises in stainless steel kitchenware industry in China, only 15.5% of them are small and medium-sized enterprises The development of stainless steel kitchenware industry in China still needs to be standardized and upgraded

In recent years, China's stainless steel kitchenware industry is eager to expand its scope, resulting in a low productivity application rate, which is only more than 60%. In 2019, export tax rebate will be reduced, and various enterprises are still pondering, adjusting development strategies, upgrading industries, renovating skills, and improving capacity application rate

Since China's stainless steel kitchenware industry is a typical inward looking industry, the Chinese economy thinks that since the financial crisis in 2019, the stainless steel kitchenware industry in China has formed an inestimable impact

First of all, affected by the financial crisis, the demand of the three major trading partners of the United States, Japan and Europe has increased sharply, and the domestic market has shrunk. According to the prediction of the domestic monetary fund (IMF), the global economic growth rate will continue to fall by 1.5 percentage points in 2019, the U.S. economy will drop by 0.7%, the euro zone's economy will drop by 0.5% in 2019, Japan's will drop by 0.2%, and the economies of emerging and developing economies will increase Under this background, the domestic demand of stainless steel kitchenware industry in China will increase, which will lead to the lack of export orders of stainless steel enterprises in China, and the profit can only drop

Secondly, trade protectionism prevails, and trade frictions further aggravate. Trade frictions are inversely proportional to the economic development of the whole world or a country, but when the economy develops well, trade frictions will increase, and when the economic development weakens, trade frictions will intensify

In 2019, due to the impact of the financial crisis, China's trade barriers will increase and the trade status will be improved day by day. In 2019, the United States and Canada will continue to strengthen the anti subsidy investigation to Chinese enterprises, and Australia has also participated in the "two anti" measures. According to statistics, in recent years, China has lost at least tens of billions of US dollars every year due to foreign technical trade barriers The top five countries and regions of trade barriers are the United States, the European Union, Japan, ASEAN and Russia. The types of skilled trade methods that important trade partners influence China's industrial products export are mainly in six aspects: certification request, skill standard request, personal safety request, environmental protection request, toxic and harmful materials limit request and packaging and information request; Guangdong Province, Shandong Province, Jiangsu Province, Shanghai city and Henan Province are the top five provinces affected by foreign skilled trade measures

In 2020, the impact of financial crisis and epidemic situation will continue to aggravate. China will suffer from trade friction and trade barriers, which will increase the difficulty of stainless steel kitchenware export

In addition, the financial crisis also makes stainless steel industry trade income risk has been expanding. In 2020, nearly half of the members of the 30 most prosperous economic cooperation and development organizations in the world will increase in danger, and the global trade environment faced by Chinese enterprises will change significantly. Under the influence of the epidemic situation, the risk of foreign exchange collection in China's stainless steel kitchenware industry has been rising, and the export situation is not deplorable

Influenced by the financial crisis, China's stainless steel kitchenware industry is facing all kinds of risks mentioned above. In order to deal with the export dilemma under the financial crisis, the Chinese economy thinks that both enterprises and the government should pay attention to it and adopt necessary measures to revitalize the stainless steel kitchenware industry in China

In order to improve the quality of the industry, it is necessary to develop a small and thrifty type of kitchenware

Second, in the context of shrinking domestic and foreign consumer markets, enterprises should try their best to renovate their products to attract consumers. The key investment products include complete sets of products and products with European and American styles. Single product has little difference in terms of cost and profit. Individual products have higher added value and more investment; People are looking for career art more and more. European and American culture is highly valued

Finally, the state should continue to increase the export rush policy, promote the introduction of policies to improve the export tax rebate rate of local products, further perfect the trade financing policy, inherit and enhance cooperation at home and abroad, invent a good internal environment, and support trade protectionism. In addition, local governments should further improve government services, improve customs clearance convenience and slow down import and export Commodity test quarantine, etc

 Stainless steel cabinet drawer.jpg

Stainless steel cabinet drawer