Although our country is a major producer of fasteners, previously, due to the relatively low level of R&D in our country, most fastener companies relied on imported equipment. We can see that many domestic screw machines are relatively simple. Moreover, when using domestic fastener equipment, various problems tend to arise. Faced with this series of issues, most fastener companies in our country have had to start using a large amount of foreign fastener production and testing equipment.

However, in June 2013, we conducted a survey of many domestic fastener companies and found that the previous situation has gradually changed. We discovered that with a certain improvement in our country's R&D level, domestic screw machines in enterprises have also reached a high level. It is expected that by 2020, over 80% of the production and testing equipment in our country's fastener companies will be fully localized.

According to the "2013-2018 China Machine Tool Industry Operation Status and Development Trend Analysis Report," we can see that in the entire year of 2012, the production of fastener equipment in our country began to show significant improvement. With government support, we found that investments reached 798.515 billion yuan, an increase of 12.73% compared to 2012, and the production process achieved a value of 775.496 billion yuan, also showing a growth rate of over 12.25%.