BEIJING, Sept. 19 /Xinhua-PRNewswire/ -- According to statistics from tootoo.com, from 2001 to 2007, China’s fastener industry has grown at an average rate of more than 25% for consecutive years. Data shows that China’s fastener enterprises ( http://www.hardware-tools-china.com/ ) expanded rapidly, and sales revenues of more than 70 enterprises exceeded 100 million Yuan, meanwhile the production concentration increased quickly. Leading enterprises occupy a pivotal position in the global fastener industry. These are the direct results of the world’s economic development, the manufacturing transfer, and the industrial policy adjustments in developed countries.
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According to the National Bureau of Statistics, in 2006, the number of fastener enterprises which could reach the industry scale was 1,449, and they were distributed in China’s eastern coastal areas, focusing around Zhejiang, Jiangsu and Shanghai, with a total number of 974,582 in Zhejiang province, particularly Ningbo, Wenzhou and Haiyan.
2008 is crucial to the development of China’s fastener industry. Recently, the environment has begun to change as the energy and resources crisis leave a lasting issue for the fastener industry, and the rise in labor costs poses a threat to the sustainable development of the industry. All these unfavorable factors have resulted in the fastener industry moving away from traditional hubs in coastal areas to the interior mainland.
According to statistics, there are 122 Wenzhou fastener enterprises that have invested 55,000 Yuan in Jiangxi Province to build a fastener industrial park, with the intent to provide an annual production capacity of up to 200,000 tons; another 56 Wenzhou enterprises invested about 450 million Yuan to build factories in Jiangxi’s Boyang city. This indicates that the fastener industry forms a new industry cluster in Jiangxi province.
In addition to Wenzhou fastener enterprises’ transferring to Jiangxi Province, Ningbo companies ( http://www.hardware-tools-china.com/Buying_Leads/) are looking to develop in Xingtai, Hebei province. Xingtai Fastener Manufacturing Co., Ltd. Ningbo is one of the seven factories that have been established with the 1 billion Yuan invested by Ningbo’s fastener enterprises. Judging from the current distribution of fastener enterprises (http://www.hardware-tools-china.com/Buying_Leads/Garden_Tools/) in China, China’s industrial fasteners are forming clusters, and through industrial shifting, new industrial clusters are continuing to be shaped.
