China Fastener Machinery En Route to Localization

According to an investigation on China fastener industry in June 2013, we found that the pattern of China's procurement has gradually changed. Ever since China's R&D level achieves a certain degree of upgrade, the number of localized fastener machinery in domestic companies has turned very high. It is predicted that in 2020, production and inspection equipment in China's fastener companies will be comprehensively localized by over 80%.

According to the "2013~2018 Analytic Report on the Operational Condition and Development Trend of the China Lathe Industry", in 2012, fastener machinery production in China showed significant growth. Besides, with the government support, investment in the production reached RMB 798.515 billion (up 12.73% compared to 2012), and production value reached RMB 775.496 billion (up 12.5%).

As this trend goes on, even though we cannot guarantee that fastener machinery will retain annual rapid growth through 2018, signs have indicated that China's fastener machinery is en route to localization.