In 2009, China exported a total of US $19.8 billion of light industrial metal products according to the China Investment Guide. However, due to the Global Financial Crisis, this number was down nearly 16% from the previous year. Of China’s light industry manufacturing, metal hand tools accounted for a total export value of US $2.8 billion according to the China Light Industry Foundation. China also exports a massive number of various electric power tools, with nearly 85% of global exports coming from China, making it the indisputable leader in production of power tools. China’s manufacturing has been able to achieve this level of domination by being able to secure low production costs while still meeting all international standards of quality and production. There have also been a large number of independent certification services as well as testing and counseling agencies forming domestically to meet a rapidly growing need alongside this already established industry. This will only continue to add to China’s domination in tool manufacturing as it can increasingly provide reliable products while still sustaining highly competitive production costs.
CPG’s experience in sourcing tools includes: