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. . 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.

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. In recent years, the ratio of the unit price of imported fastener products to the unit price of exports has been increasing.

In the past two years, the ratio actually exceeded 8 times. In 2007, 56.95% of the foreign exchange earned through fasteners was imported, and only 6.81% of the fasteners were exported. This shows that the fastener industry in China is still under development. The industry is big, not strong, and it has a big gap with the developed countries of the United States, Japan, and Europe.

From the perspective of industry ownership, the fastener industry was a separate industry subcategory before 2006, but in accordance with the new “National Economic Industry Classification” in 2007, “Fasteners and Spring Manufacturing” merged into one industry subcategory. Because the number of spring manufacturing enterprises and the total economic volume are relatively small, it is difficult to remove them from the fastener industry. Therefore, in the actual analysis of the development of the fastener industry, some data will not be springs. Manufacturing companies to remove.

It can be seen that the value of the non-fastener industry in the fastener industry in China has reached a considerable proportion (more than 30%), and according to the caliber of fastener companies above the scale of the Bureau of Statistics, since 2004 the country has performed the first An economic survey resulted in an increase of over 75% in the number of fastener enterprises and total economic output in the country this year. This means that in 2002-2007, the average growth rate of China’s fastener industry economy exceeded 35%. If we eliminate this factor, the average economic growth rate of the fastener industry in China in recent years is 24%. The category corresponding to "Fasteners and Springs Manufacturing" is "General Parts Manufacturing and Mechanical Repair", and the corresponding industry category is "General Equipment Manufacturing."