China's standard parts industry is optimistic about the prospects, Zhejiang businessmen invested heavily in the development of automotive standard parts

China's standard parts market is very large, with potential research and development capabilities and mass production capabilities. China's rapid development of fasteners must establish an overall technology platform, and not only a single scattered technical innovation. Today's global anti-dumping measures against Chinese fasteners are higher than a wave, which is not conducive to the development of China's fastener market. A fastener company wants to maintain its continuous core competitiveness, largely due to product innovation. Product innovation includes three aspects: improvement of existing products, replacement of products, and complete new products. These are fundamental to the rapid development of enterprises and high profits.

In order to respond to the development of domestic and foreign markets and respond to the country’s need to increase green energy construction, Zhejiang New Oriental has been frequently involved in high-end product development in recent years. In March 2008, it successfully developed and put into operation various models suitable for railway systems. Pull rivets and bolts, and on this basis, developed and produced pull rivets for other industries. At the same time, the company also invested in and produced fastener connection products suitable for wind turbine systems, and exported to Sweden, Australia and other countries. The products were widely praised by customers.

If standard parts companies do not make product transitions or take high-end routes, the next competition will become increasingly fierce. In addition, how to recruit people and how to use them may be the biggest problem faced by the current fastener companies. What enterprises must do now is to do a good job of enterprise management, and think of ways to recruit people who are lacking. The people arrived to let the existing personnel stabilize in the company.

Zhejiang New Oriental Fastener Co., Ltd. will spend 120 million yuan to develop standard parts for automobiles, including standard parts such as automobile engines and cylinder bolts. In addition, Haiyan County Bureau of Quality Supervision National Standard Product Quality Supervision and Inspection Center and research and development service team also set up a special technical team to help Zhejiang New Oriental Car Standard Parts project development.