Wenzhou's fastener industry is facing a second round of entrepreneurship

Time:

2018-12-04

Wenzhou's fastener industry is facing a second round of entrepreneurship

Wenzhou is one of the areas with the most concentrated fastener enterprises in China. In recent years, it has developed rapidly. Currently, there are more than 3000 fastener production enterprises in Wenzhou, including more than 200 upper scale and upper grade enterprises, with an annual output of over 1 million tons and an annual output value of over 10 billion yuan. However, there are less than 30 enterprises with an annual income of over 100 million yuan.
The Wenzhou Fastener Industry Association was established in early September 2005, marking the growth, scale, and strength of the fastener industry in Wenzhou. But with the strength of Wenzhou fasteners, compared to the large number of multinational fastener suppliers entering China today, it is really far away.
The gap between fastener enterprises in Wenzhou City is mainly reflected in poor management, outdated technology, and low quality. In addition, the small scale of enterprises, unstable supporting relationships, low R&D investment, low product development capabilities, low product technology content, and low added value are all urgent problems that Wenzhou fastener enterprises need to solve.
The situation of scattered, disorderly, and small fastener enterprises in Wenzhou has not improved for many years. The potential crisis that enterprises are currently facing is increasing, and some are facing survival crises. During the 11th Five Year Plan period, the Chinese fastener market will become even more brutal. Wenzhou fasteners must improve their research and development and manufacturing levels, otherwise they will be constrained by others and weaken the competitiveness of the local fastener industry.
It is reported that some enterprises in Wenzhou have taken action. As resources become increasingly scarce, many enterprises are preparing to relocate to save costs and increase efficiency. According to statistics, 122 fastener enterprises in Wenzhou have invested 550 million yuan in Wannian County, Jiangxi to build a fastener characteristic industrial park, with an annual production capacity of up to 200000 tons of standard hardware per capita.
56 fastener companies in Wenzhou invested approximately 450 million yuan to officially sign contracts with Poyang County, Jiangxi, marking the successful transfer of Wenzhou's fastener industry to Poyang County. Currently, the total investment is 1.16 billion yuan, and the industrial park has started construction.