There is enormous latent supply of equipment and machinery in China across a wide range of industries. The amount of arbitrage happening in the China-to-US machinery and equipment space seems almost too significant to not be disintermediated. Why has no one been able to tap into it, especially the marketplace giants, Amazon and Alibaba?

High-Touch or Low-Touch?

One reason is the unique high-touch service needs of equipment and machinery industries. High-touch means that customer service issues are often more complex, but the business involves high value customers. In contrast, most consumer goods follow a low-touch customer model.

From operating call centers trained in technical advice and troubleshooting, to providing adequate after-sales maintenance and repair, the need for high-touch customer service from end to end is unavoidable in the world of big-ticket machinery and equipment purchases. Few Chinese manufacturers can afford to operate a dedicated US-based team to fulfill this for US customers.

If traditional cross-border intermediaries such as trading companies and OEM buyers can fill this need and profit handsomely, why couldn’t a horizontal marketplace platform step in and steal their thunder (along with billions of dollars of profit)?

As Alibaba and Amazon's marketplace platforms have been built out around consumer goods, these incumbent players follow highly entrenched low-touch service models. This because the relatively low value of consumer purchases prevent a high-touch model from ever being profitable. However, conversely, a low-touch model greatly limits these platforms’ ability to accommodate Chinese direct-selling of industrial equipment and machinery the same way they have – to an extent – for Chinese consumer goods.

One Man's "Innovator's Dilemma" is Another's...

It would go against Alibaba or Amazon’s core business models if they were to establish a dedicated after-sales service team to answer customers’ various technical industry-specific questions, much less provide on-site maintenance services. But that is exactly what is needed by Chinese industrial sellers in order to sell to the US.

A platform that provides high-touch English-language service is the very key that will unlock an enormous volume of latent supply. It is a key that may not seem intuitive at first due to the consumer models proven out by the giants, Amazon and Alibaba. But it’s one whose numbers make complete sense if you take a look at the US market from a buyer perspective, in conjunction with understanding the challenges and incentives from a Chinese seller perspective.

SHENYANG, Liaoning-September 24, 2017 – Toolots CEO Jason Fu and Executive Advisor Peter Wei met with local leaders in Shenyang last Friday to discuss mutually beneficial opportunities to grow the global manufacturing community. 

Toolots was warmly received by the local officials, who hoped to offer their support for Toolots doing business in their region as well as examine what efforts could be made to increase and strengthen cross-border commerce. 

Jason Fu (middle) and Dr. Peter Wei (left) of Toolots pictured with Vice Mayor Zhang Jinghui.

Once at the forefront of China's industrial revolution, Shenyang is still the most important city for manufacturing in Northeast China. But like other cities in China's rust belt, the local government is making every effort to modernize industry and revitalize the region. This includes supporting private sector industries as well as creating an international business environment in accordance with World Bank criteria. Viewing Toolots' business model as beneficial to industry as well as trade, Shenyang is interested in promoting Toolots' unique platform to SMEs seeking to expand their distribution network or sell in a new market. 

"Industrial equipment manufacturing plays a pivotal role in Shenyang's economy. Toolots is a global marketplace specializing in industrial equipment, so I am particularly interested [in the company] for that reason," said Vice Mayor Zhang Jinghui. "Shenyang's industrial suppliers have a substantial domestic customer base, but they haven't broken that much ground internationally. We will actively support getting an initial 'batch' of industrial supply vendors to conduct cross-border sales on your platform." 

Toolots CEO Jason Fu expressed his gratitude for the city's help in promoting the platform. He assured, "Our product specialist teams will work with several initial Shenyang suppliers to bring their products onboard that are suitable for the U.S. market. These initial suppliers will be 'model enterprises' to demonstrate that Toolots really is the fastest and most effective method for suppliers to expand their business overseas." 

Zhang also expressed his interest in bilateral trade. "Toolots can also help us attract American SMEs to do business here – indeed, what our manufacturing needs is bilateral international cooperation. What Toolots wants to do in terms of business development is precisely what Shenyang needs right now," said Zhang. "Shenyang is working hard to build an international business environment. We even invited third party organizations to assess, in order to better compel progress. Shenyang government will offer Toolots comprehensive support in expanding its business here, as soon as possible." 

Toolots' CEO Jason Fu agreed that the focus would not only be on getting Chinese vendors on the platform, but also on getting U.S. vendors to sell to China: "Toolots is a services platform for industrial suppliers, primarily SMEs in the U.S. and China. SMEs in China and the U.S. have similar needs and challenges. Although large U.S. manufacturers have had a lot of success expanding sales into China, U.S. SMEs haven't necessarily been able to. We have signed a cooperation agreement with the U.S. Department of Commerce to help U.S. SMEs enter the Chinese market. In doing so, we actually garnered both U.S. federal and state government support as well." 

Like many other cities in China, Shenyang has invested substantially in the creation of free enterprise zones and industrial parks in order to attract foreign businesses. For example, the China-German Equipment Manufacturing Industrial Park in Shenyang was introduced in late 2015 to attract advanced production in automotive components and other industrial sectors. It currently hosts 30 German companies, including one of BMW's biggest manufacturing plants. Now cities in Liaoning, including Shenyang, are seeking to bring businesses into their U.S.-focused industrial parks. They hope that companies like Toolots will help bridge the way for U.S. companies interested in expanding to China. 

Shenyang municipal leaders and Toolots gather for a group photo after the meeting.

A Chinese version of this article, can be found here.

Xiuzhou Economic Development Delegation from Jiaxing, China visits Toolots and local SMEs

Tenghui Guo, Executive Deputy Governor of Jiaxing, giving open remarks to attendees.

CERRITOS, Calif – August 17, 2017 – Toolots was honored to receive over 40 prestigious guests Tuesday for an exclusive US-China Manufacturing Delegation held at its’ headquarters. The event aimed to gather US and Chinese government officials with expertise and experience in the manufacturing industry with local US manufacturers to discuss the importance of bridging the gap between the Pacific, how to improve trade relations, and the future of the industry as a whole. Attendees were given the unique opportunity to ask delegates questions regarding the industry and the importance of California and the Xiuzhou District.

The event began with with remarks by Toolots Founder Jason Fu and the Executive Deputy Governor of Jiaxing Tengui Guo, who stressed the importance of strong trade relations to streamline industrial commerce between the United States and China. Cerritos Mayor Grace Hu then delivered a proclamation certificate to Guo, to thank the delegation for choosing the city of Cerritos and its’ businesses to begin strengthening relations.

“California is open for business [and happy to] support our residents here within the district” Adam Galia, a District Representative for California State Senator Tony Mendoza, stated. Galia then presented the delegation with a certificate on behalf of the Senator for the 32nd District. “[We] commend your contributions to this form of helping  American businesses in advancing and improving relations between our two countries” Galia read, verbatim, from the certificate.

Lisa Zhou, President of the Chinese CEO Organization, followed Galia by presenting a certificate of recognition for contributions to the development of the Chinese-American business community, noting the Xiuzhou Economic Development Delegation’s commitment to improving trade relations. Desmond E. Thompson, Vice Chairman of the Board for the Cerritos Regional Chamber of Commerce, then discussed China’s role in international trade with the US. With over $600 billion in total trade with China in 2016, the Vice Chairman was thrilled that Toolots and the Delegation chose Cerritos as their headquarters and event location. “Toolots [is] helping expand the local opportunities for all businesses to play a role in this significant source of trade,” said Thompson.

Vice Chairman of the Board for the Cerritos Regional Chamber of Commerce, Desmond E. Thompson, discusses US-Chinese trade and the potential benefits for local SMEs.

Toolots Chief Technology Officer, Bill Andreozzi then took the stage to provide guests an introduction to Toolots’ unique platform. Briefly, Andreozzi explained Toolots’ vertical approach to the market, and how after-sale services can disrupt traditional eCommerce models. The event concluded with an industrial equipment cross-border eCommerce platform signing ceremony, a group photo, and a networking luncheon.

Representatives from the Xiuzhou Economic Development Delegation from Jiaxing, China (嘉兴市秀洲区经贸考察团) included:

• Tenghui Guo: Executive Deputy Governor, People's Government of Xiuzhou District, Jiaxing City
• Chunfu Dong: Deputy Director, People's Republic of Xiuzhou District, Jiaxing City
• Xihua Xu: Director, Jiaxing Xiuzhou Bureau of Economy & Commerce
• Jianzhong Du: Deputy Director, Development and Reform Bureau of Xiuzhou District, Jiaxing City
• Yong Qian: Director, Bureau of Economic Development & Statistics, Jiaxing Xiuzhou National Industrial Development Zone
• Yanqin Ma: Project Manager of Service Investment Bureau, Jiaxing Xiuzhou National Industrial Development Zone (interpreter)

According to the Chinese government officials who attended, California’s role in global commerce is imperative. International contributions through trade and investment will provide significant benefits to the manufacturing community,extending beyond American businesses and their employees to assist the communities they operate in as a whole.  

Group photo of attendees of the US-China Manufacturing Delegation hosted by Toolots at their Cerritos, CA headquarters.

“Xiuzhou can help American companies to develop their businesses,” said Guo, Executive Deputy Government for the People’s Government of Xiuzhou in Jiaxing City. Guo was one of six members of the delegation who traveled to Toolots Cerritos headquarters for the event. He further added that the Chinese government wants to reinforce its national manufacturing reach by solidifying strategic partnerships with esteemed foreign manufacturers, like those located throughout the state of California. During a brief presentation, Xihua Xu, Director of the Jiaxing Xiuzhou Bureau of Economy and Commerce, discussed the manufacturing resources, potential partnerships, and investment or partnership opportunities in his city. While these partnerships are valuable to Chinese government officials, it’s also an opportunity for American manufacturers to broaden their market, invigorate production, and spark increased localized growth. “We think Toolots will become a bridge between companies in China and California, and elsewhere in the United States.”

The US-China Manufacturing Delegation is one example of Toolots’ ongoing ambition to increase engagement between the US and Chinese industrial communities to help promote localized economic growth in Southern California while also educating US SMEs on how to effectively export their products to the overseas market. Additionally, the Company’s streamlined global eCommerce platform makes it easy for manufacturers to sell their products to long-tail, or niche, markets.

Toolots differentiates itself from the competition by providing the logistical, financial, and personnel support to get new products in the hands of new customers in addition to comprehensive after-sales services. This affords small to medium sized enterprises the ability to focus on the quality of their products, while Toolots handles the heavy lifting. To learn more or to list your company’s products on our eCommerce platform, sign up at www.toolots.com.

Toolots has announced its 2nd Annual US-China Manufacturing Exchange Summit will take place Sept. 24-26, 2017 at the historic Grand Pacific Hotel in Yuyao, China.

Join Medical Device Manufacturers, Trade Associations, Government Officials and More in Yuyao, China

CERRITOS, Calif. – July 3, 2017 –With the 2nd Annual US-China Manufacturing Exchange Summit, Toolots, Inc. continues to cultivate fruitful relationships between American and Chinese advanced manufacturing communities. Hosted by the China Chamber of Commerce for Import & Export of Medicines & Health Products (CCCHMPIE) and the Sino-Italy Ningbo Eco Park, involving high-level industry professionals, regulators and government officials, the Summit provides a platform to accelerate international expansion and expand your global network. Take advantage of this rare opportunity to experience China, learning first-hand what it takes to effectively sell innovative medical devices, health-related products and more on the Asian marketplace, directly from venture capitalists, investors, and executives who take advantage of a unified cross-border strategy to succeed globally.

The 2nd Annual US-China Manufacturing Exchange Summit, centering on the medical device industry and related regulations, logistics and more, will take place Sept. 24-26, 2017, as part of Toolots’ yearly initiative to promote improved relations between both countries and simplify global commerce within the advanced manufacturing community. The event will be hosted at the historic Grand Pacific Hotel in Yuyao, China, part of the eastern Zhejiang Province close to the busiest port in the world, based on shipping volumes, the Ningbo Zhoushan Port.

Some participating companies in the medical device and health product industry include China MEHECO Corporation, Shanghai Medicines & Health Products Import & Export Co., Zhejiang Medicines & Health Products Import & Export Co., Tianjin Medicines & Health Products Import & Export Co., Jiangsu High Hope International Group, China National Scientific Instruments and Materials Corporation.  In addition to a host of large, influential Chinese companies, Toolots and its partners have arranged for a significant presence of venture capitalist firms interested in investing in innovative American companies and products. Some of the principal firms attending the Summit include Sequoia Capital, Cybernaut, Histtone Capital, Hill House Capital, TusPark Ventures and Yangming Capital.

Panel discussions on how to succeed in the global marketplace, protecting intellectual property, and industry developments, among other topics, will help to inform attendees from the U.S. and China, and serve as an educational tool to guide their businesses and organizations. Scheduled discussions will involve officials from the Ministry of Commerce of the People’s Republic of China, the China Chamber of Commerce for Import & Export of Medicines & Health Products, a wide range of executives from both U.S. and China-based medical device companies, and others.

Attendees have the rare opportunity to connect directly with authorities and other professionals in China who can provide logistical or capital assistance, whether you are seeking to register a medical device or other innovative health product, or wish to expand your business operations and network. Space is limited to 30 medical device companies in total, so secure your place today. To sign up, please register via our Eventbrite page here or send us an email at summit@toolots.com. To stay up to date with the latest event information, be sure to visit http://www.toolots.com/summit2017.

Benefits:

• Enjoy personalized matchmaking of U.S and Chinese manufacturers for more meaningful and productive networking.

• Roundtable dialogues between international trade experts, manufacturers, and government leaders will help inform and guide real-world business decisions.

• Tour advanced manufacturing facilities in Ningbo, an industrial stronghold, to see first-hand what China and its industrial capabilities are truly like.

Co-Hosts:

The China Chamber of Commerce for Import & Export of Medicines & Health Products is the leading national trade association in China, aiming to improve international trade and relationships within the biomedical and healthcare industries. With over 2,400 companies in the association, including major manufacturers in the pharmaceutical and medical product sectors, the CCCMHPIE has the most extensive network of any organization in the industry. As a guest at the Summit, you will have an incredible opportunity to connect with these industry professionals who routinely market and sell the products you, as a US-based manufacturer, develop and distribute.

The Sino-Italy Ningbo Eco Park, a collaborative effort between the Chinese and Italian governments for a new industrial development focusing on advanced manufacturing, is planning for a new 18-square-mile manufacturing district, a residential/commercial district and an ecological park to guide sustainable industrialization. The goal is for the area to become a hub for innovative research and development involving cooperation between Chinese, American, and European companies.

Panels will be held on topics including:

•         Protecting Intellectual Property Rights
•         Land, Labor and Capital in China
•         Navigating Customs and Globalized Logistics
•         Effective Marketing and Sales in China

What: 2nd Annual US-China Manufacturing Exchange Summit

When: Sept. 24-26, 2017

Where: Grand Pacific Hotel, 168 S Binjiang Rd, Yuyao, Zhejiang, China, 315400

To sign up for Toolots' free webinar for manufacturers on May 19, please RSVP via email to cfoy@toolots.com

Toolots engineers install a robotic device on a plastic injection molding machine to greatly speed up production.

CERRITOS, Calif. – May 15, 2017 – Toolots, Inc., a Southern California-based online marketplace for the latest industrial equipment, machinery and technology, invites interested biomedical and advanced manufacturing companies to join a no-cost educational webinar on the market conditions and outlook for original American products in mainland China. The webinar takes place Friday, May 19 at 1 p.m.

As the company’s US-China Medical Device Summit approaches, taking place June 28-30, in Ningbo, China, the Cerritos-based company invites any interested firms, executives and representatives to participate in the second webinar in the series. Attendees will discover on the ground conditions in China, and learn how the online marketplace and the comprehensive services offered to Toolots partners can give companies a leg up in the market for innovative medical products. During the seminar, you will learn about the growing demand for US-manufactured medical devices, how much more Chinese customers are willing to pay for foreign-made health products, devices and advanced technology, and hear how your company can gain by attending the US-China Medical Device Summit next month.

The US-China Medical Device Summit will be hosted by the leading national trade association in China for medical devices and biomedical products, and is co-hosted by Toolots. Toolots invites your participation Friday in our no-cost online seminar to learn more. To sign up for the webinar or for additional information, please contact Toolots Director of Public Affairs Chris Foy at cfoy@toolots.com. Private consultations are also available to explore how Toolots can help your company break into the lucrative Chinese market and elsewhere in the region, where Toolots has a growing international footprint.

Ride the wave of optimism and fuel your company’s growth with Toolots, getting products in the hands of new global customers

CERRITOS, Calif - April 4, 2017 - With the Trump administration slashing federal regulations on small business growth and an “America First” focus on trade, manufacturing and homegrown industry, the National Association of Manufacturing is reporting the largest boom in United States manufacturing industry confidence in decades.

Ninety-three percent of U.S. manufacturers surveyed by NAM, the oldest and largest manufacturing association in the country, reported a positive outlook for the future. Chief Executive Officer Jay Timmons said the survey of industry executives polled higher than it has throughout the organization’s history. Respondents were also asked whether they believe the administration is on the “right or wrong track” as it relates to manufacturing.

“Just a month before inauguration (Jan. 20), the ‘right track’ number was only 26 percent; today it’s over 60 percent, so that’s huge growth,” Timmons said. The survey of manufacturing executives takes place each quarter and spans 14,000 members, according to NAM.

White House officials cited the survey during the March 31 press briefing, expressing confidence that the administration’s actions on trade - namely leaving the Trans-Pacific Partnership and recent executive orders - are helping to nurture that optimism.

“That’s a 20-year record high that’s more than 35 points higher than where it was the same time last year,” the White House press secretary said, referencing the same poll taken last year that gauged optimism within the industry at only 57 percent. “The rising confidence stems from the belief the new administration will bring much needed regulatory relief...We’re making it easier to do business, and we’re just at the beginning of this process.”

While it is taking time for the optimism to translate into quantifiable results on the ground, small, medium and large manufacturers have invested hundreds of millions of dollars, billions in total, towards bolstering American factories and a stronger domestic workforce. Riding the wave of optimism are countless companies purchasing new machinery to set ablaze their U.S. production capabilities and hiring employees to sustain increased operations.

How Toolots can help

As optimism rises across the country based on the NAM survey, more than a dozen American manufacturers have signed up to sell their Made in USA products on the Toolots online marketplace within the last three months. Toolots is a Southern California-based distributor of industrial machinery, equipment and technology that helps companies break into new markets, domestic and international. With strategic locations in California, Texas and China, Toolots does the heavy lifting to simplify logistics and fulfillment for consumers and vendors, resulting in a hands-off, worry-free approach to selling industrial equipment.

Many small to medium-sized U.S. manufacturers are in need of such a solution to get their innovative products in the hands of new customers. Toolots provides a low risk method to increase distribution of manufacturing equipment, and a comprehensive solution for sales, marketing, fulfillment and after-sales services.

With growing optimism among manufacturing executives and increasing opportunities within the labor force, small to medium-sized companies have an opportunity to provide equipment in high demand both here in the U.S. and abroad. In countries like China, factories are willing to pay a premium for Made in USA products to increase productivity and reduce operational downtime often associated with lesser-quality manufacturing equipment.

Breaking into the Chinese marketplace is not an easy task, especially for the small companies that comprise a majority of the U.S. manufacturing industry. Our logistics pipeline has served Toolots and related enterprises well for years, and our ongoing partnerships with factories across China and the United States help to build a bridge to connect their manufacturing industries. Through Toolots, partnering manufacturers are able to secure sales directly with factories in need of their products - not needing to spend time marketing, selling and distributing their goods in newer unfamiliar markets on their own, risking loss of profit, productivity or even product.

As an industry, American manufacturing employs over 12 million and contributes more than $2 trillion annually to the U.S. economy. The manufacturing industry has the “largest economic impact of any major sector” and accounts for more than 75 percent of all private-sector research and development, according to NAM. Greater than three-quarters of all U.S. manufacturing firms are classified as small businesses with fewer than 20 employees.

For more information on how working with Toolots could fuel your company’s growth during this period of record-high optimism within the U.S. manufacturing industry, contact our Global Commerce Services team today at (844) 866-5687 or send inquiries to cfoy@toolots.com.

Interested in breaking into the Chinese marketplace? Toolots can help

Join us on March 31, 2017 for a no-cost informational online seminar on the market conditions and outlook for innovative American products within China. The event will take place from 12:00pm PST to 1:00pm PST during the lunch hour for attendees' convenience. Additional webinars will be announced in the coming weeks. Toolots invites any interested companies to participate, or contact Director of Public Affairs Chris Foy at cfoy@toolots.com for a private consultation on how we can help you break into the lucrative Chinese market and elsewhere in the region.

Fu discusses Toolots' logistics and 2017 projections with ~30 investors in attendance.

CERRITOS, Calif. - January 7, 2017 - Toolots, Inc., a California-based provider of factory-direct industrial machinery, equipment, and technology hosted their first investor meeting for the 2017 quarter last weekend. Roughly 30 California based investors, with backgrounds ranging from finance to science and technology, attended the event to discover more about Toolots’ unique e-commerce marketplace.

Jason Fu, founder and CEO of Toolots,Inc., began the event by discussing Toolots’ evolution and expansion with attending investors since the company’s creation in 2011. During his presentation, Fu outlined Toolots’ goal to achieve lasting economic growth for the U.S. and China by building strong relationships and streamlining industrial commerce. He concluded by sharing the launch of Toolots’ new Global Commerce Services initiative, including their projection to expand their current manufacturing network by at least 100 companies in 2017.

Hermann Liu of Andra Capital gives presentation discussing the qualities of beneficial investments.

Hermann Liu, Managing Partner at Andra Capital, stated that the “quality of the entrepreneur [Jason] and the business is what sets Toolots apart and makes their success” following his presentation discussing the necessary steps companies must take to “cross the chasm”. Liu cited Jason Fu’s resilience and execution as two of the CFO’s best qualities and critical to the company’s successful expansion and operation thus far. “Jason has a vision and is not driven by finances”, Liu said and continued by explaining “he genuinely wants to do good and better both the U.S. and China.” Liu also stated Toolots is unique as Amazon and Alibaba can’t immediately compete with Toolots due to the fact that they lack the necessary presence respectively within the U.S. and China.

“I have seen first hand the way he interacts with his investors, his employees, and vendors, and it’s very admirable and genuine” Liu concluded.

About Toolots

Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and technology. The user-friendly platform provides fast, easy access to high-quality, affordable equipment to manufacturers. Toolots’ comprehensive services streamline the purchase, delivery, installation and warranty of industrial technology, machinery and components, and uphold the quality of important goods through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, as well as in mainland China, Taiwan and Hong Kong. For more information about Toolots, visit their website.

For more information or questions, contact Samantha Hyatt, Toolots' Director of Public Affairs, at shyatt@toolots.com or 1 (844) 866-5687.                                                                                                                ###

Toolots’ current projection for 2017 includes the addition of 100 new U.S. based companies to their network to sell and export their products to Asia

CERRITOS, Calif. - January 3, 2017 - Toolots, Inc., a California-based provider of factory-direct industrial machinery, equipment, and technology, is starting the new year with plans to induct 100 U.S. based manufacturing companies join their network. Expansion of Toolots’ industrial online marketplace will double their product offerings from four lines to at least eight in the first few months of 2017. Furthermore, Toolots’ industry products within their marketplace will see an expansion in green energy, medical research and equipment, automation, material handling, and food production categories.

Toolots’ announcement comes during a global shift in the political climate within which the U.S. is focused on profitability from exporting goods to countries, like China, who are eager to import quality products. This change allows U.S. companies to expand domestic resources and jobs to match the demand for imported goods in foreign markets.

Jason Fu, Founder and Chief Executive Officer of Toolots Inc., stated Toolots’ aim has always focused on “fostering international trade relations amongst businesses and by adding 100 U.S. based companies to our network we increase domestic opportunity by creating jobs here in the U.S. and by expanding domestic manufacturing resources and profits through product exportation.”

One contributing factor to the success of Toolots’ plan is their upcoming role as the organizers for a June 2017 conference in Ningbo, China. The US-China Medical Device Summit will include two days of panels and networking for major U.S. and Chinese players in the industry, followed by a third day for tours of the manufacturing industrial parks. Fu stated success would be accomplished through the culmination of the company’s “hard work and efforts.”

Toolots’ announcement follows the launch of their companion smartphone app YuuTool in December 2016, the completion of their inaugural Manufacturing Summit hosted locally in Cerritos, CA August 2016, and their expansion to a larger facility this past July 2016.

About Toolots

Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and technology. The user-friendly platform provides fast, easy access to high-quality, affordable equipment to manufacturers. Toolots’ comprehensive services streamline the purchase, delivery, installation and warranty of industrial technology, machinery and components, and uphold the quality of important goods through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States and China. For more information about Toolots, visit their website.

During keynote speech, Chairman of the House Foreign Affairs Committee and U.S. Congressman Ed Royce addresses international attendees at Toolots’ inaugural event

U.S. Congressman Ed Royce addresses guests at the Toolots Inaugural Manufacturing Exchange Summit Aug. 29, 2016

CERRITOS, Calif. – Aug. 29, 2016 – U.S. Congressman Ed Royce, Chairman of the House Foreign Affairs Committee since 2013, addressed an international audience at the Toolots Manufacturing Summit on Monday. He spoke about the need for international trade agreements that provide mutual benefit for both the United States and China, and advocated increased dialogue and collaboration with global partners.

Royce's speech was one of many given by distinguished guests from the private and public sectors in both countries at the event hosted by Toolots, an E-Commerce business headquartered in Cerritos, Calif. that provides industrial machinery, tools and equipment to worldwide manufacturers.

“One of our goals is to deepen and expand ties between Asia and the United States,” Royce said, speaking to industry, government and thought leaders from the United States and China. “We want everyone in this room to have a level playing field.”

The Congressman, who represents the 39th District of California and also serves on the House Financial Services Committee, said one aspect of the U.S. government’s focus is on cultural exchanges between the two countries – but it’s deeper than that.

“(It’s also) on the issues of how we can address some of the mutual concerns; how we can get a bilateral treaty and an agreement with high standards for mutual benefit,” he added. “We want to open market access for our manufacturers who are trading.”

Recognizing California’s significance to not only the U.S. but world economies, Royce said “trade here is in our DNA” and pointed out the state does approximately $165 billion each year in the import/export industry.

After speaking to the audience about California’s place in the world and ways China and the United States can work together to solve mutual problems, from intellectual property protection concerns to customs and regulatory issues, Royce presented Toolots Chief Executive Officer Jason Fu with an American flag flown over the U.S. Capitol. It was accompanied by a certificate of authenticity provided by the Architect of the Capitol.

Later, Royce expressed appreciation for the opportunity to meet with international leaders at the Summit. He stressed both the value and importance in interacting with world leaders to solve shared problems.

“That strategy of continuing to engage is one I think is very important for the United States and China,” he added.