At present, China fastener industry is facing transformation. Continued overcapacity and declining sales increase the survival pressure of some enterprises. The benign development of an enterprise must be based on the establishment of core competitiveness and intrinsic motivation. Most Chinese fastener enterprises lack of advanced technology and technical personnel due to insufficient innovation ability.

 

In recent years, with the steady and rapid development of economy, China's fastener industry has overcome various difficulties and clung to domestic market. Relying on cars, high-speed railway, shipbuilding, advanced manufacturing industry, etc. It has been focusing on innovation, transformation and structural adjustment of products constantly. 

 

For sales and output, Chinese and Japanese are close in sales: $9.375 billion and $9.69 billion respectively. But the respective sales volume is 6.2 million tons and 2.87 million tons. That means China’s exported fasteners get the lowest added value. Therefore, the added value of technology content must be paid attention to export products.

 

At the same time, high strength non-standard special-shaped products develop rapidly, accounting nearly sixty percent of the total market. Feng Jinyao, the president of National Fastener Association, said: “Profession, speciality and preciseness are the path of our industry. First of all, I hope enterprises can ascent per capita labor productivity to 500 thousand - 1 million Yuan. Only by this can enterprises obtain the ability to participate in market competition.” 

 

The development of the industry mingled with hope and fear in the past five years. The industrial concentration has increased certainly, and leading enterprises have maintained a fast growth. However, small businesses account for a large number and disperse greatly. Low product added value, excess capacity and price dumping make the market unregulated.

 

It is the most important for enterprises to improve competition capacity and to tightly control the quality of products. Profession, speciality and preciseness are the keys to the development of fastener enterprises.