Toolots

CERRITOS, California- October 17, 2017- Since 1945, the Food and Agriculture Organization of the United Nations (FAO) has celebrated World Food Day (WFD) on October 16 of each year to commemorate its founding. Yesterday, over 150 countries throughout the world celebrated WFD  to "... promote worldwide awareness and action for those who suffer from hunger and for the need to ensure food security and nutritious diets for all." Specifically, this year's theme focused on solving the issue of migration through increased food security and rural development. 

One major component in ensuring food security however is the actual processing and manufacturing of agricultural materials into food and beverage products. Within the U.S., food manufacturing is a vital component of the greater manufacturing industry as it essentially generates significant revenue for the economy and helps create edible food products. In 2015 the products created during food manufacturing and processing actually accounted for "16% of the value of shipments from all U.S. manufacturing plants."  

The Value of U.S. Food Manufacturing 

According to the United States Department of Agriculture (USDA), food processing occurs at food manufacturing plants where "... raw agricultural materials [are transformed] into products for intermediate or final consumption by applying labor, machinery, energy, and scientific knowledge." Essentially, these manufacturers help transform the food grown by farmers into edible products for consumption after preparation, or for immediate consumption. In addition to helping supply the U.S. with food, the industry also employs a significant number of employees. As of 2015 these facilities employed roughly 1.5 million workers, which accounted for 14% of employment within the U.S. manufacturing industry as a whole. 

Furthermore, food manufacturing is able to contend with fellow subsectors in regards to revenue generation. During Industry Week magazine's IndustryWeek US 500 2017 for example, a ranking of the largest U.S. public manufacturers by revenue, 31 food companies appeared on the list.  

Only four manufacturing categories -- petroleum & coal products, computers & other electronics products, chemicals and machinery -- had a greater number of representative companies on the IW 500 than [the] food manufacturers. -Industry Week 

Altogether these food companies earned a collective $337.3 billion dollars in revenue, out of the $12 trillion NAM estimates the manufacturing industry collectively contributes to the U.S. economy annually. Additionally, manufacturing production increased this month indicating signs of recovery since June 2017 following several hurricanes and natural disasters in the U.S. As such, Toolots is uniquely positioned to help food manufacturing SMEs expand their current distribution network, break into the global market, or offer assistance with after-sales services, organization, and competitive pricing to tap into the growing market. For additional information, contact us via phone at (844) TOOLOTS or via email at sales@toolots.com. 

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CERRITOS, California- October 11, 2017- Toolots, an online marketplace and international cross-border platform for factory-direct industrial tools, machinery, equipment, and technology, announced it recently achieved $1 million in lifetime sales.  

Headquartered in Cerritos California, the company was originally founded in May 2016 by CEO Jason Fu, who has 17 years of industry experience through his machinery supply company Bolton Tools. Through its innovative platform, Toolots aims to bolster the global manufacturing industry by helping SMEs overcome barriers, expand their businesses, and generate more revenue. 

This is accomplished through Toolots' scalable, comprehensive services and ERP system currently being finalized. Vendors who partner with the company maintain their branding rights usually lost in traditional distribution models. In addition, vendor partners gain access to data allowing them to make transparent decisions and focus on daily operation tasks or overall business growth. Essentially, Toolots' model offers its customers quality equipment at competitive prices, thereby manufacturing SMEs to focus these funds on additional employees or services. Furthermore, the issue of after-sales services for purchased machinery and equipment, which often serves as a major concern to customers, is resolved through the company's network of service technicians on its YuuTool  repair app. 

With the achievement of $1 million in lifetime sales, Toolots strives to support SMEs to strengthen cross-border relations and aid in the growth of the global manufacturing industry. 

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CERRITOS, California- October 10, 2017- The sixth annual National Manufacturing Day (MFG Day) 2017 concluded last Friday wherein approximately 3,000 events occurred nationwide. Of this number, over 170 of the events took place in the state of California alone. MFG Day, which occurs each year on the first Friday of October, strives to celebrate the modern manufacturing industry while simultaneously educating individuals on the current state of the industry and its future.  

Often events include small and medium-sized enterprises (SMEs) opening their facilities to their community members, students, and educators to provide an in depth look into their average day. In addition, SMEs may also attend events hosted by local colleges or universities to demonstrate the function and use of their products, or discuss career opportunities in their field and dispel misconceptions. 

This year, Toolots sponsored transportation for over 30 high school students from Artesia, Cerritos, and Gahr high schools within the ABC Unified School District (ABCUSD) to attend MFG Day at Cerritos College. Attending students had the opportunity to tour five departments within the college’s Technical Division that displayed woodworking, welding, engineering, and machine tooling technology. Students were provided with knowledge regarding the use of several machines, including a live demonstration of machines in operation by professors and general safety tips. 

30+ students from ABCUSD attend MFG Day at Cerritos College

High school students from ABCUSD listen to a professor for Cerritos College's MFG Day event

Sponsorship of the event is one example of Toolots’ efforts to actively partner with the ABCUSD to educate and encourage youth interested in fields such as manufacturing, engineering, and technology to support these industries and promote growth. Current projections estimate the manufacturing industry will create roughly 3.5 million jobs over the next ten years, offering interested students a variety of potential career paths to choose from. However in addition to educating students about the industry, Toolots helps bolster manufacturing by offering U.S. SMEs assistance in overcoming barriers, such as inefficiency, slow innovation, or high prices, which previously hindered their ability to expand domestically or abroad. This assistance is facilitated through the company’s innovative platform and business model which supplies partnered SMEs with scalable, comprehensive services such as after-sales services in addition to access to ERPs and corresponding data which will allow them to focus on daily operations or make transparent, executive decisions.  

Thus the effect of events that educate and encourage students interested in manufacturing and technology like MFG Day, in tandem with the support of U.S. SMEs, are vital to sustaining and promoting the growth of the manufacturing industry which contributes roughly $12 trillion to the U.S. economy annually.  

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The event aimed to open discussions about cross-border business between the U.S.-China, while encouraging the next generation of engineers and entrepreneurs within the community. 

Toolots Team attending Day 2 of the Forum.

September 30 and October 3, 2017-Toolots was a proud sponsor of the ShuiMu U.S.-China Innovation and Entrepreneurship Forum, a two-day conference held on last weekend on September 30th and October 1st. The conference was co-organized by Tsinghua University's Alumni Association in Southern California and LEAP Career Development, a nonprofit dedicated to career advancement and networking for young people in STEM. The event aimed to open a dialogue about cross-border business in the U.S. and China, with a focus on topics such as culture, economy, innovation, and technology. In addition to a forum for innovators and investors, the conference integrated a Venture Capital (VC) pitch competition, as well as a Youth STEAM Innovation Competition. Tsinghua’s strong alumni presence in Southern California provided the forum with a distinguished lineup of exceptional business executives and leading minds across a wide range of fields.

Dr. Jessie Ying Zhan speaking to attendees about how Toolots has collectively worked to achieved success.

Day 1

On Saturday, Toolots was pleased to host the events for Day 1 of the Forum which included an Entrepreneurship Bootcamp and the Youth 3D Design Mini Hackathon. Both events were held at Toolots' headquarter office located in Cerritos, California. The Entrepreneurship Bootcamp featured three distinguished keynote speakers from Tsinghua's Alumni Association, including Toolots’ own Dr. Ying Zhan (Jessie). Topics covered included risks and solutions in start-ups, the entrepreneur’s mindset, and how to win over investors. The speakers shared their collective experience as cross-border business leaders and investors before offering advice on leadership and entrepreneurship.

During the event, Jessie shared Toolots’ story and how the company was able to successfully garner VC investment. She explained that Toolots’ success, not only in its pitch but its overall trajectory as a start-up, could be attributed to its exceptionally strong board, its genuinely disruptive business model, and its ability to prove feasibility and user traction.

The second event, the Youth 3D Design Mini Hackathon, occurred on Saturday afternoon. Participants of the event were allowed to work in teams of two or three, including an adult coach, and were required to be currently enrolled in a school between 6th-12th grade. Winners of the "Explore Mars, Build the Future" theme were invited to attend the final pitch of Day 2's Innovation and Entrepreneurship Competition event. Facilitation of this event, and similar ones, is part of Toolots' initiative to actively support education and encouragement of youth in technology through attending, hosting, and sponsoring community education events, an ongoing partnership with the ABC Unified School District, and a new summer internship for high school students interested in the manufacturing industry.

Student winners of Day 1's Hackathon attend Day 2's pitch competition.

Day 2

The second day was held at the Hilton San Gabriel in Los Angeles and featured a full day of events intended to bring together the business forum and the youth competitions.

The first discussion centered around the current environment for cross-border startups in China and the U.S. The panel mainly addressed the opportunities and challenges companies and business leaders in both countries must overcome to successfully do business overseas. During their dialogue, the panel also discussed innovation and cross-border entrepreneurship in both markets before noting that the legal environment has seen great improvements in China, and that IP protection has increasingly become a priority.

The second panel featured speakers with technology industry knowledge who addressed potential business opportunities with AI and machine learning technology. The panelists discussed the current AI landscape and various applications of AI, including security, healthcare, and autonomous driving.

Toolots CTO Bill Andreozzi speaking on the components of a good, successful pitch.

Following the conclusion of the panel discussion portions of the event, Toolots CTO Bill Andreozzi kicked off the pitch competition after giving an opening speech. During his speech, Andreozzi demonstrated parts of Toolots’ own pitch, while analyzing the key components to provide insight into the necessary elements of a good, successful pitch. He began with an analysis of the title, “Machinery of operational transformation,” explaining that it was an effective yet simple way to tell investors that Toolots essentially provides a collection of tools and gears that work together to provide disruptive solutions.

Andreozzi then gave an overview of the barriers SMEs going global often face: inefficiency, high prices, slow innovation. He elaborated by stating that products often don't go global until there is demonstrated market value, which results in slow innovation. Andreozzi stated that Toolots' platform and business model are intended to help SMEs overcome these barriers to expand their businesses and generate revenue.

During his speech, Andreozzi also highlighted the importance of clearly distinguishing your business from competitors when pitching to investors. He referred to Toolots' pitch, wherein the company contrasts their new, innovative business model with the traditional model that often results in manufacturers losing their branding rights when selling products like industrial equipment overseas. Overall, the traditional model increases cost to consumer, while decreasing revenue to manufacturer in China.

“Show the problem statement and then show what you do. What differentiates you? Break down specifics,” Andreozzi said, explaining a slide listing the comprehensive services Toolots offers its customers and vendor partners. He noted that at this point during the pitch, investors might ask whether Toolots really does all of this. The answer would be yes, because all the services are scalable, with the most important being after-sales services. Toolots has successfully built a network of service technicians with YuuTool, the Uber of service repair.

“Make sure both your business model and market are sustainable. What is gluing your customer to your product?” prompted Andreozzi, before offering a deep dive into how Toolots “glues” the customer: it manages all their daily operations, and its ERP is being built so that Toolots can put business intelligence around it. Toolots focuses on ERP and partners with others for supply chain, etc. With a majority of data integrated into its ERP, Toolots will achieve true transparency with regards to operations and supply chain that will allow vendor partners to make informed decisions, focus on revenue generation, and day to day operations.

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Streamlining and creating processes to increase productivity and efficiency throughout the company 

CERRITOS, California- October 3, 2017- Toolots, an online marketplace and international distribution channel for factory-direct industrial tools, machinery, equipment, and technology, recently announced the expansion of their technology department through the hiring of Manny Aparicio as the company's new IT Manager last month.  

"Everything IT, [and essentially] anything that plugs into a wall, I want to help with" Aparicio stated when discussing his personal ambitions for the role. 

Aparicio joins the company with over 10 years of industry experience in various IT management roles including his previous role, where he was responsible for overseeing the Managed Service Provider (MSP) for a startup company in Los Angeles. When asked about his perceptions about the company, Aparicio stated he saw Toolots as an interesting, technologically involved company looking to improve its own processes, as well as those for its partnered vendors. He elaborated by stating he was impressed by the company's dedication and growth, and looked forward to helping the company make a bigger impact in the industry through the creation of streamlined processes. 

"Streamlining the processes are key for production. I'm like a highway worker clearing out the lags and debris to make the road clean and solid for us to use," Aparicio said. 

As the new IT Manager for Toolots, Aparicio will be responsible for implementing and maintaining the company's technology infrastructure while working with the current CTO William Andreozzi and his team. Moreover, he will be responsible for researching new technology that may assist in improving productivity and organization when implemented. As of now, Aparicio is auditing the company's current systems and assessing their outcomes to identify areas that are inefficient and can be improved. He stated that the goal of the audit is to assess what needs to be completed overall, while also determining what should be finalized by the end of the year. Aparicio described it as establishing "...what needs to be in place, [and] what makes sense for everyone" to standardize the essentials without overly complicating the processes for employees and merchants. 

We’re excited to announce the hiring of Manny Aparicio as our new IT Manager. Learn more about him & his work here: https://t.co/VQGtB1qHHs pic.twitter.com/XY4GP4WKyG

— Toolots (@ToolotsUS) October 3, 2017

"I want to establish processes, standardization, and foundation throughout all levels of the company to make everyone's job easier and more efficient," Aparicio summarized. He elaborated by stating that the core function of an IT department is to ensure the company has access to the proper tools and resources for daily operation in addition to overseeing the security of data, backup systems, and network. Aparicio concluded that standardizing processes across the board would create simplified, clear cut ways for employees to do their job without creating excess work. 

"My objective is to foster and help growth, whether its creating processes or consolidating servers, I really want to use my experience to help the company grow," Aparicio stated. 

Infact, Aparicio cited the potential for growth and creation as two of the main draws that attracted him to Toolots. He explained the opportunity to build systems and processes from the ground up, in addition to the team oriented environment, was extremely special. Furthermore, with Toolots's international growth, the pending completion of its ERP systems, and the daily onboarding of merchants on the platform, Aparicio stated that he could see the department growing with the company in the future. 

About Toolots  

Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and manufacturing technology. Our user-friendly platform provides fast, easy access to high-quality, affordable equipment for manufacturers. More than a simple distribution channel, Toolots provides comprehensive services for companies around the world who produce the industrial machinery and equipment we sell, helping streamline the marketing, omni-channel sales, warehousing, fulfillment and after-sales service. On the customer end, Toolots simplifies the purchase, delivery, installation and warranty of industrial technology, machinery and components, and upholds product quality 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, China and as of May 2017, has expanded into Taiwan. For more information visit us online at www.toolots.com.  

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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.

SHENGYANG, Liaoning-September 21, 2017 -Toolots CEO Jason Fu met with Bi Chunguang, the president of Liaoning Chunguang Pharmaceutical Equipment Co., Ltd., at Qibaoshan Hotel in Sheyang Province on Thursday, to discuss business opportunities.  

Liaoning Chunguang Pharmaceutical Equipment Co., Ltd. is an award-winning manufacturer of packaging machinery, pharmaceutical machinery, and other equipment in Liaoning Province. They are a trusted brand of equipment used widely among manufacturers in the pharmaceutical, food, cosmetic, and household chemical industries. The company has five main product lines: liquid blowing potting automatic molding filling machinery, blister packaging machinery, automatic cartoning machinery, and automatic production line equipment, totaling more than 20 models overall. In addition to being a leading packaging machinery company in China, the company also exports to more than 60 countries in Southeast Asia and Europe. Customers include many well-known pharmaceutical companies in China, including Yunnan Baiyao, Tongrentang, Harbin Pharmaceutical Group, and Tasly Pharmaceutical. 

Chunguang mentioned that the pharmaceutical packaging industry in the US lags behind that of several other top economies like Germany, but that means room for improvement and therefore great opportunity. 

Toolots CEO Jason Fu (right) with Bi Chunguang of Liaoning Chunguang Pharmaceutical Equipment Co., one of the industrial suppliers slated to expand into U.S. exports using Toolots.

"To me this represents a collaborative effort, not only in regards to sales, but also in terms of development strategy for mutual growth," said Chunguang during the meeting. He also embraced Toolots' product display center concept in California, where flagship products are shown to prospective U.S. customers hoping to familiarize themselves with various product lines. Chunguang will be the first vendor to sell pharmaceutical packaging machinery on the platform. The machines manufactured by Chunguang will be vital to U.S. SMEs seeking to seal and protect their products from contamination or exposure during processes such as distribution, storage, and sale prior to their use. However, Chunguang's packaging machines also allow businesses to reduce their labor, improve productivity, and protect their workers from handling materials that may be hazardous or adversely affect their health.  

Toolots will hold its Second Annual China-US Manufacturing Exchange Summit in China from November 12-14, 2017, to which Chunguang is invited, along with several other medical equipment manufacturing companies from China and the U.S. For additional information on the Summit, or to RSVP, visit our Eventbrite page here. 

To view a Chinese version of this article, please click here.

CHANGCHUN, Jilin-September 22, 2017- Toolots CEO Jason Fu and board member Dr. Peter Wei attended a business roundtable Wednesday in Jilin Province to discuss how Toolots can play a role in creating export opportunities for Jilin's industrial equipment manufacturers.  

Toolots attends a business roundtable with top industrial supply business leaders in Jilin.

Director of the European and American Affairs Office of Jilin Province Liu Zhijian speaks at the exchange.

Toolots CEO Jason Fu describes the company's business model at the exchange.

The exchange featured a panel of 18 manufacturing executives, including several top industrial supply companies in Jilin. Several heads of the Jilin Provincial Government were also in attendance, including Liu Zhijian, the Director of European and American Affairs Office of Jilin Province. Changchun City Foreign Affairs Office Deputy Director Ou Shuo, Changchun Bureau of Commerce International Market Development Director Suo Tie, Deputy Director Jiang Xutang, Siping City Economic and Trade Bureau deputy director Liu Dongyu were among the officials in attendance.  

The 18 top manufacturing executives represented companies producing a wide range of industrial products, including automobile manufacturing, transformers, industrial automation, valves, power generation equipment, and other equipment. 

Toolots was given the opportunity to speak about its business model and how its platform makes it possible for industrial equipment SMEs in Jilin to become export-ready, particularly as US manufacturing heats up and its demand for equipment grows. 

"Toolots coming to Jilin is a win-win situation," said the Changchun Deputy Director of Foreign Affairs during the roundtable discussion. "It is always our goal to facilitate and build bridges when it comes to global trade, so we will do everything we can to support Toolots in helping Changchun industry explore export opportunities."  

Deputy Director of Foreign Affairs Office of Changchun City Ou Shuo speaks at the exchange.

After Toolots spoke about their platform, the Siping Economic Cooperation Bureau said that he was optimistic about the company's impact on industrial exports, and looked forward to spreading the word.  

Deputy Director of Changchun Bureau of Industry and Information Technology Jian Xutong also expressed his full support of Toolots's business model, noting an interest in helping bring more companies onboard.  

"The U.S. is bringing back manufacturing to the States, but Toolots has turned this trend into opportunity. China's industrial industry has accumulated a degree of excess capacity, yet there is a prevailing lack of know-how in terms of how to export it to U.S. manufacturers. Fortunately, this is precisely Toolots's area of expertise."  

Deputy Director of Changchun Bureau of Industry and Information Technology speaks at the exchange.

Toolots CEO Jason Fu spoke about Toolots's plans for the future:

"Before October of next year, we will have onboarded 300 industrial equipment companies which will serve as business model validation, showing investors, local governments, and business leaders our platform's potential for incredible growth." 

Toolots CEO Jason Fu speaks at the exchange.

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

September 2017-Subsequent to Zhejiang, Jiangsu, Shandong, Guangdong, Sichuan, Beijing, Shanghai, Taiwan, Anhui and Hebei, the Toolots has continued its market expansion of merchant vendors in Northeast China. On September 20th, Toolots' Chief Executive Officer Jason Fu and Executive Advisor Dr. Peter Wei attended a business roundtable with their China team at the Shangri-La Hotel in Changchun City. The purpose of the event was to conduct exploratory market research along with a symposium on the topic of how Toolots, as a pioneering cross-border e-commerce company, can lead the small to mid-sized manufacturing enterprises (SMEs) into the global market. Toolots' unique cross-border platform mutually allows the opportunity for Chinese manufacturers to enter into the U.S. market, and also allows U.S. manufacturers the opportunity to enter into the Chinese market. 

Attendees of the event included major stakeholders such as Deputy Governor of Jilin Province JinYuhui, top officials of Jilin’s Government, in addition to several key manufacturing enterprises in Changchun City. 

Scene at the symposium.

Additionally, several top officials the city's correlational government departments in attendance included: Lihua Huang, Deputy Director of the Provincial Office of Foreign Affairs; Yugang Gong, Deputy Director of the Office of the Ministry of Industry and Commerce; Guohua Sun, Deputy Director of the Provincial Department of Commerce; Yong Xu, Deputy Director of the Provincial Economic and Trade Bureau Office, Zhijian Liu, Division Chief of the Provincial Department of U.S. and Europe; Chengjun Tian, Division Chief of the Provincial Department of the U.S. Commerce; Wei Wang, Division Chief of the Provincial Department of Foreign Trade; and Peng Gao, the Division Chief of Provincial Department of the Economic and Trade Bureau. 

The symposium was presided over by Ms. Lihua Huang, the Deputy Director of Jilin Provincial Foreign Affairs Office. At the beginning of the meeting, Ms. Huang expressed a sincere welcome to the Toolots team:   

"The Jilin Provincial Government views the arrival of your company as highly important [due to the fact that] we’ve heard Toolots is a well-known cross-border e-commerce platform in the United States, and that the company has made numerous beneficial endeavors in the aspect of constructing a cross-border e-commerce platform for industrial equipment between China and U.S. Through this meeting, we are looking forward to gaining some valuable insights and recommendations from Toolots for our forthcoming cooperation, as well as deepening the understanding of the manufacturing industry in Jilin. [We] hope that Toolots will assist our manufacturing industry to capitalize on the development of the growing U.S. market." 

Deputy Director of Jilin Provincial Foreign Affairs Ms. Lihua Huang (middle) greets Toolots CEO Jason Fu (left)and the Board Advisor Peter Wei (right).

Deputy Director of Jilin Provincial Foreign Affairs Office Ms. Lihua Huang, presiding at the symposium.

Following roundtable discussion, Mr. Jason Fu provided a detailed introduction to the attending governmental officials regarding three aspects of the company: the positioning of Toolots platform, the innovation of the platform, and how Toolots will develop and advance its next five-year plan through cooperating with and growing the local manufacturing industry. 

Jason Fu stated:  

"We have 17 years of accumulated market penetration and experience, and when the shareconomy emerged in 2015 we were able to predict our ability to help SMEs by sharing our resources, including our pre-established market, customers, after-sales services, and more. The trade market between China and U.S. for consumer goods has already been saturated. However in recent years, there continues to be a 650 billion-dollar U.S. market for industrial products imported from China. Nearly 90% of this value is actually made by factories in China that are set up by foreign countries and regions in the world. The portion made by native China manufacturing factories is stills mall, yet to those native China manufacturing factories, this is a potential billion-dollar blue ocean market”. 

Toolots CEO Jason Fu (middle) gives an introduction about Toolots to the correlational governmental department officials in Jilin. 

With the revitalization and resurgence of the U.S. manufacturing industry, Chinese industrial supply companies have the opportunity to simultaneously enter the U.S. market and assist in the growth of global manufacturing by providing SMEs with quality equipment at competitive prices. As a vertical e-commerce online platform focused on industrial equipment and manufacturing, Toolots has consistently been devoted streamlining global trade and e-commerce through the expansion of its big data system. With its innovative business model, the company has shared numerous resources and services on its platform with partnered vendors including omni-channel marketing, warehousing and logistics, operational management plans, and more. Toolots continues to develop its shared economic platform through VF (virtual firm) technology, thereby allowing them to provide various shareconomy services including e-accounting, e-register, e-insurance, e-finance, in addition to other shareconomy services. 

In traditional distribution models, distributors maximize their own benefits and distribution rights despite the vendors’ interests. However, Toolots provides a unique cross-border e-commerce platform using a global shareconomy method to eliminate these profit-blockers and maximize the benefits for partnered vendors. 

During the symposium, the Director of the Foreign Trade Department of the Jilin Provincial Department of Commerce Mr. Wei Wang stated that for the past two years, Jilin Province has been strongly promoting the development of cross-border e-commerce business, in four aspects:  

First is to encourage current enterprises to fortify their business through cross-border e-commerce; Second is to have the enterprises that lack the experience in foreign trade to utilize cross-border e-commerce platforms for entering international markets; Third is to use cross-border e-commerce to attract and bring back any enterprises that have left Jilin for other provinces; Fourth is to attract foreign enterprises to Jilin for participating in their business development on cross-border e-commerce. 

Deputy director of the Office of the Ministry of Industry of Jilin Province Yugang Gong inquired about the Toolots after-sales system during the symposium.

Jason Fu indicated that currently, the most applicable method for the cooperation of Toolots and the Province of Jilin is to establish model enterprises.  Toolots can start by choosing 2-3 products fields filled in Jilin, then cultivate 5-10 model enterprises. These model enterprises can then be used as sample cases in the following promotional stage in Jilin to directly promote a wider range of enterprises within the city.  

The Deputy Director of the Jilin Provincial Economic and Trade Bureau Yong Xu, showed immense interest in Toolots’ role in the future China-U.S. Industrial Park project. Essentially the industrial park will allow U.S. manufacturing SMEs to establish satellite offices, corporate branches, or manufacturing facilities within the city of Jilin to take advantage of a variety of benefits including distribution, market expansion, and more. The park will also provide a myriad of benefits for the city of Jilin ranging from increased jobs, strengthening relations within the global manufacturing community, and many more.  

After the meeting, the Deputy Governor of Jilin Province YuhuiJin, who oversees industrial businesses, as well as the top officials from the correlational governmental departments, hosted a luncheon for attendees including the Toolots team. The Governor warmly welcomed the participants event, and thanked them for their attendance before giving a full affirmation of Toolots’ business model. He concluded the event for the day by stating the provincial government would offer and provide their support for U.S. SMEs seeking to conduct business in Jilian, and cited Toolots as a pioneer company aiding manufacturing SMEs in their development and expansion. 

Deputy Governor of Jilin Province YuhuiJin (right) in discussion with Toolots CEO Jason Fu (left).

In Jilin, automobile manufacturing is its representative industry. The picture shows the Deputy Governor of Jilin Province YuhuiJin (right) offering a model car as the present for CEO of Toolots Jason Fu (left).

Group photo of the Jilin Province Governmental top officials and the Toolots team.

A Chinese version of this article is available here.