China’s High-Speed Rail Construction Offsetting EU Fastener Tariffs
April 03
00:00
2010
4/3/2010
China’s High-Speed Rail Construction Offsetting EU Fastener Tariffs
Construction of high speed rails connecting Chinese provinces is offsetting the loss of fastener exports due to European anti-dumping tariffs on fasteners.
Four south-to-north and four east-to-west railways and three intercity transport systems totaling 12,000 km are under construction. Trains will travel up to 200 km per hour.
Prior to 2010 the demand for high-speed rail fasteners was RMB$15.7 billion (US$2.3b), Fastener World reported.
Fastener manufacturer Gem-Year Industrial won a RMB$.58billion (US$8.5m) in late 2009 contract for rail fasteners. ©2010 GlobalFastenerNews.com
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