China has entered the era of industrial production of slings.
The sling is the auxiliary material for production and construction, and the development of the sling market is closely related to economic development. Before November 2008, due to the rapid economic development, China's economy has advanced by leaps and bounds. Therefore, China's slings have developed very rapidly, and both exports and domestic sales have reached the peak of history.
However, the world financial crisis of September 2008 has already affected the real economy since November 2008, and its foreign demand in terms of exports, especially chemical fiber slings and transport tighteners, has been drastically reduced. In addition, due to the sharp appreciation of the renminbi against the euro and other foreign currencies, the competitiveness of China's rigging exports has been greatly reduced. Some foreign orders previously booked have begun to suffer large losses due to the significant appreciation of the renminbi against some foreign currencies.
China’s main slings accounted for a large proportion of exports. Due to the obstruction of exports, some enterprises closed individual workshops and reduced the production capacity of chemical fiber slings and bundles. Some enterprises transferred employees of chemical fiber workshops to work in steel rigging workshops. The company started to lay off employees. Zhejiang is mainly an export-oriented enterprise, which is the most affected. In 2009, the export target of China's export-oriented slings was only guaranteed to operate. In the Chinese market, as the major industries using slings are severely shrinking, companies are accounting for costs, their demand is much reduced, and their ability to pay is declining. Although the state has proposed revitalization plans for these industries, the demand for these industries cannot be rapidly increased because the international climate is difficult to recover. It should be noted that as China continues to invest in new projects, such as nuclear power construction, wind power construction, railways and bridge construction, the demand for slings will be improved in these construction projects.