The machinery industry is China's largest industrial sector. In 2011, China's machinery industry achieved a total industrial output value of 16.89 trillion yuan.

At present, China's construction machinery sales and sales have both surpassed the United States, Japan, and Germany to rank first in the world; China's construction machinery self-sufficiency rate has increased from about 70% during the "Tenth Five-year Plan" period to more than 80% at present, gradually Realize the leap from manufacturing to creation. Including loaders, excavators, truck cranes, road rollers, forklifts, bulldozers, and concrete machinery, a large number of engineering machinery products have leapt to the top in the world, and China has become a truly world-renowned engineering machinery manufacturer. The rapid development of the machinery industry and the huge market size provide a broad space for development for the fastener industry.

The mechanical industry is one of the main users of fasteners. Because China has a relatively late understanding of the importance of mechanical parts in the machinery industry and lack of investment for a long time, the entire industry has a poor foundation, a weak foundation, and weak strength. In particular, with the increase in the level of China's host computer, bottlenecks that mechanical components lag behind the host are becoming increasingly apparent.

Luo Baihui, secretary-general of the International Mould, Hardware and Plastics Industry Suppliers Association pointed out that in recent years, the fastener industry has provided certain support in terms of technology introduction, technological transformation, research and development, etc., but with the current market demand and foreign standards. In comparison, there is still a small gap, which is manifested in: a small number of products, low levels, unstable quality, high early failure rate, and poor reliability.

"Fasteners are the main basic parts of the machinery industry. The development of the machinery industry places higher demands on the fastener products." Luo Baihui believes that the current domestic standard fasteners have always been oversupply, while high-grade fasteners are in short supply. Depends on imports. High-strength fasteners With the improvement of the industrialization level and technological progress of the country, the usage has gradually increased.

It is understood that during the 12th Five-Year Plan period, the number of construction machinery such as loaders, excavators and road rollers will reach 6 million units, and the annual sales volume will be around 50,000 units. Based on this estimate, the annual demand for high-strength fasteners is about 20,000 tons to 30,000 tons.

“The basic parts represented by the fastener industry are not only the basic industries of China's equipment manufacturing industry, but also an important basis for all fields of national economic construction.” Luo Baihui pointed out that in the “12th Five-Year Plan” period, the industry is maintaining part of the cost At the same time, we must rely on new advantages such as technological progress, quality improvement, and product cost-effectiveness to achieve sustainable development.

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