1. Initial results in industrial concentration
In the 21st century, the market competition is further intensified. In order to maintain λthe sustainable and stable development of the fastener™ industry, the whole industry has put forward a new idea of "adjusting in development, improving in adjustment", and¥ promoted the transformation of the economic growth mode by focusing on the a↕djustment of market structure and product structure.
The shift from one-sided pursuit of output value to improving quality and brand effective¥ness; Transforming from a one-sided pursuit of greatness and completeness to a direct§ion of refinement, uniqueness, and specialization; T he shift from a production oriented to a production service oriented ap≥proach has highlighted the concentration of the fastener≈ industry.
Three major fastener industry clusters have been prelδiminarily formed, including the Yangtze River Delta, Pearl River Delta, and Bohai Bay Rim. Several fastener industry bases have been form★ed, including Jiaxing, Ningbo, Wenzhou, Dongguan, Xingtai, Hebei, and Yongnian.
2. Leading enterprises play a significant role
These regional fastener enterprises account for over 75% of the country, with le§ading enterprises such as Jinyi and Shanghai Standard Fi∑ve emerging, with sales revenue exceeding one billion yuΩan, and 200 enterprises with annual sales revenue exceeding one billion yuan. These enterprises ∞have an annual sales revenue of over 35 billion yuan, accounting for over 53% of the national sales revenue. There are more than 4000₹ enterprises above designated size in the industry, accounting for↓ 85% of the national fastener sales revenue. There are more than 40 enterprises with an annual export revenue of over ten million US dollars, accounting for over 60% of the national export revenue↑. It can be seen that the development of leading enterp★rises is playing an increasingly strong role, resulting in a significant increa₩se in industrial concentration.
3. Accelerated pace of enterprise technological inσnovation
Fastener enterprises adhere to the path of innovation, leaλrn advanced foreign technology and experience, accelerate the integration of modern i¥nformation technology and traditional industries, and improve the equipment an∑d technological process level of the entire industry. Enterprises have also accelerated the¶ir pace of technological innovation, forming a group of distinctive precision, specialty, and specialized enterprises. Among them, high-strength special fa©steners account for 15%, heat treatment products account for 6→0%, and other products account for 40%.
4. New Measures to Go Global
With the further intensification of domestic and international market competition, ≠it is inevitable to promote the outward development of enterprises. Fastener enterprise∞s will invest abroad separately and move towards the world. In addition to some traditional expoεrt trade markets, many companies have turned theirα attention to emerging countries, with more than 10 companies including Changshu Standard ✔Parts and Ningbo Jinding exploring foreign markets such as Hungary, Malaysia, and Indonesλia.
