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International economic crisis of 2008
( Updated: 2008-10-10 )

In this year,the biggest International economic crisis have a big influence for Chinese financial crisis,lots of small factories & companies have been closed down.

 

A number of American and European banks declared massive losses in their 2008 end of the year results.The Letter of Credit payment term is unsafe,lots of factories couldn't receive the payments after they send out the goods,they have to close down!!

 

Obviously,the Global Financial Crisis also have a serious influence to our company,because our products leading market are North America & Europe,the old clients are in a hard time,they move very slow in their orders.Half of the workers go out our factory,because without enough orders to reach the workers.

 

Anyway,we pass this hard period successfully,and recover production smoothly by our strong purpose &  team work,we trust that we will regrow up quickly!!

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