China's Fastener Industry Accelerates Integration with Countries in the World Economy

With the continuous promotion of the process of revitalizing the equipment manufacturing industry in China and the accelerating pace of industrial upgrading, the integration of the fastener industry in China and the economies of various countries in the world continues to accelerate. This has made more and more demands on the product quality and technical level of the fastener industry in China. The high demand for whether the fastener industry can continuously improve its overall level not only concerns whether it can shorten the overall gap between China's automobiles, major technical equipment and foreign advanced levels, but also relates to the development level of the entire national economy, including people’s lives. .

In recent years, the ratio of the unit price of imported fastener products to the unit price of exports has been increasing, and the ratio in the past two years actually exceeded eight times. In 2007, we used 56.95% of the amount of foreign exchange earned on fasteners. The number of fasteners with a export volume of 6.81% shows that China's fastener industry is still a developing industry. It is large and not strong, and it has a big gap with the developed countries of the United States, Japan, and Europe.

At present, the global fasteners are mainly used in the automotive industry, electronic industry and construction and maintenance industries. In 2007, China exported a total of 2.57 million tons of fasteners, which accounted for 48.95% of the current year's output. However, China’s exports of fasteners are still mainly medium and low-strength fasteners, and export orders are confusing, and export volume has grown too fast. Export time and export countries are too concentrated, low prices, high value-added products, which often trigger some trade frictions such as anti-dumping.

Among them, the automotive industry is the largest user, with demand accounting for approximately 23.2% of the total sales of fasteners; followed by maintenance of the industrial market and construction industry, accounting for about 20% of the total sales of fasteners; the third is the electronics industry, accounting for about 16.6% of total sales of fasteners.

The automotive industry is the largest user, with demand accounting for approximately 23.2% of the total sales of fasteners; followed by maintenance of the industrial market and construction industry, accounting for approximately 20% of the total sales of fasteners; and the third is the electronics industry, accounting for approximately 16.6% of total sales.