Currently, most domestic fastener enterprises in China have a singular product development process and weak technological R&D capabilities, resulting in a significant gap compared to multinational corporations and international peers. The transition from low-end to mid- and high-end product development is a formidable task. For the fastener industry, the 11th Five-Year Plan period (2006–2010) was a critical five-year phase.

Feng Jinyao, President of the China Fastener Professional Association, stated at the 15th National Fastener Economic Trade and Technical Conference:

*"During the 11th Five-Year Plan period, the fastener industry experienced favorable economic development but also faced a historic turning point. If China’s fastener industry fails to address its shortcomings, it risks marginalization."*

The development strategy for the fastener industry during this period has been a focal concern. Given its importance, uniqueness, and complexity, regulatory authorities prioritized comprehensive planning. A shift in mindset was imperative:

*"The 11th Five-Year Plan era differed fundamentally from the past two decades. While earlier efforts focused on market-oriented modernization, the new phase demanded digital transformation. Old approaches no longer sufficed—strategies determine outcomes."*

Strategic Goals for the 11th Five-Year Plan Expanding Manufacturing Bases:

Build upon China’s four major fastener manufacturing hubs (Haiyan, Ningbo, Wenzhou, Yongnian) to establish additional bases.

Aim to preliminarily form a global fastener manufacturing base by 2010 and evolve into a global fastener manufacturing center by 2020.

From 'Base' to 'Center':

"Base": Dominated by low-end OEM production with limited profitability and control.

"Center": Enhance international competitiveness by engaging in high-end global supply chains, targeting 30–40% mid- to high-end product share. This shift aims to rectify inequitable global wealth distribution in the industry.

Prioritizing Pioneers:

With nearly 8,000 fastener enterprises in China, encourage dynamic "vanguard" firms to lead breakthroughs, driving industry-wide upgrades in quality and competitiveness.

Challenges and Solutions

Weak R&D and Innovation: Transitioning from low-end to high-end production requires strengthening technological prowess.

Product Diversification: Focus on developing:

Heat-treated (carburized) products (>50% of total output),10.9-grade high-strength fasteners and non-standard special-shaped parts,Combination screws/assemblies, stainless steel fasteners, IT micro-screws, self-locking fasteners, titanium alloy fasteners, automotive-specific fasteners, and advanced surface-treated/chemically coated fasteners.

Cultural and Talent Development

Talent Cultivation: Diversify talent sources while emphasizing learning-oriented enterprises as the primary channel for skill development.

Corporate Culture: Establish a culture of "innovation, integration, pragmatism, and breakthroughs" to align with global industry integration.

Conclusion

Through sustained efforts, China’s fastener industry will enter a new era of rapid development, leveraging strategic shifts and cultural transformation to secure its place in the global market.