In 2010, the sales of mechanical parts and components industry increased by 21% year-on-year

In 2010, the total sales value of the mechanical parts and components industry reached 249.2 billion yuan, a year-on-year growth rate of 21%, which was the highest value in the industry's development history. Moreover, the six disciplines of gears, fasteners, chains, springs, powder metallurgy, and transmission couplings all grew by double digits. The growth rate of powder metallurgy, chain transmission, and spring industries was about 35%, and the growth rate of the gear industry was 20%. The growth rate of the transmission coupling industry is 19%, and that of the fastener industry is 15%.

The import value of the industry continued to increase rapidly and reached a record high, reaching US$14.59 billion, an increase of 36% year-on-year; of which gear import was the dominant part of the industry and accounted for 72% of the total import value. This data shows that while the entire industry continues to increase in exports, foreign parts and components products are constantly entering the domestic market, most of which are high-end products and core components. From this we can see that the situation of the big but not strong industry has not changed.

The double-digit growth of the six professions Wang Changming believes that it is precisely the series of efforts made by companies in the industry in the construction of independent innovation capacity, brand building, structural adjustment, and transformation and upgrading, which has promoted the steady and rapid development of the overall economic operation of the industry.

In particular, according to the 2016 domestic domestic large-scale passenger aircraft to achieve the goal of 80% of domestic fasteners installed, the industry's enterprises have begun systematic preparations for the production of light metal aluminum-titanium alloy fasteners. The high-lock bolts and nut standard parts produced by Guizhou Aerospace Precision Manufacturing Co., Ltd. in 2010 were reviewed and found to have been included in the ARJ21-700 qualified supplier catalog, thus becoming a qualified supplier for large aircraft standard parts.

Shanghai Standard Parts Factory and other companies actively create and improve production conditions, including process design, production equipment, testing and monitoring equipment, heat treatment and surface treatment, and provide high-quality services for large aircraft fastener product demand. It is reported that the number of fasteners used in the single-engine C919 passenger aircraft developed by China is approximately 1.09 million, which is extremely stringent for suppliers.

Wang Changming has repeatedly stressed that structural adjustment and industrial upgrading are still the top priorities of the “12th Five-Year Plan” for China’s general machinery parts industry. He said: In 2010, the industry was still a deficit in import and export trade, and the deficit reached a historical maximum of 6.9 billion U.S. dollars.

The total value of imports and exports of the industry reached nearly 22.22 billion U.S. dollars, also the highest value in the industry, with a year-on-year growth rate of 38%. The export volume of industrial products was US$7.63 billion, which reached the highest value in history and grew by 41% year-on-year. Although the highest export value of fastener products as the component industry has not yet recovered to the level of exports in 2008, the export value of the gear industry has increased by 1 billion U.S. dollars, which has boosted the strong growth of exports of the spare parts industry.