Zhejiang New Oriental will invest 120 million RMB on the development of auto standard parts including fasteners for engines, bolts for cylinders, etc, reported the journalist of China Fastener Info in the 4th Guangzhou Fastener Trade Show.

Two departments under Haiyan Bureau of Quality and Technical Supervision, China National Center for Quality Supervision and Test of Standard Parts and Service Division of Technology Research and Development, was reported to specially set up a technical team, aiming at helping Zhejiang New Oriental develop this program.

“The auto market has great potential because China is the biggest auto manufacturing and sales country in the world in 2009 and the per capita level of car ownership is very low,” Mr. Deng Jian, deputy general manager of Zhejiang New Oriental noted, “We have made preparation for this program since June 2010, and the production will be run in June 2011.”

To meet the needs of the development of domestic and overseas markets and green energy encouraged by the nation, Zhejiang New Oriental has frequently launched new high-end products for these years. For example, the company has successfully launched various rivets and bolts used for railway system, and other rivets for other industries. It also has investment in the production of fastening series products applied to the wind power generator system, which find ready markets in Sweden, Australia, etc.

With regard to the status quo and the development of China’s fastener industry, Mr. Deng analyzed, “Currently, many Chinese companies are encountered with lots of problems such as employment, personnel management and the like. Therefore, the most important thing for fastener companies now is to manage their companies well, employ suitable talents and retain talents. As to the future, I think the competition among fastener companies in China will become fiercer if they do not upgrade their products or produce high-end products. Thus, developing high value-added fasteners are our must-choice in the future.”

Mr. Deng also thought highly of the 4th Guangzhou Fastener Trade Show. “Zhejiang New Oriental has taken part in many domestic and overseas fairs, and Fastener Trade Show organized by China Fastener Info is our must-participating show every year because the show is good, an excellent platform for purchasers and suppliers to communicate with each other, meet new friends and old fellows.”

www.chinaFastenerinfo.net