Jinhua in Zhejiang province held an electric tool industry promotion event on the sidelines of the 37th China International Hardware Fair in Shanghai on March 20.
Industry experts, representatives from renowned enterprises, and commercial associations were invited to attend the event, aiming at advancing the high-quality development of the city's electric tool industry.
A series of activities was held to drive in-depth cooperation among all participants, including consultant appointing, investment promotion, sharing of successful cases, interactive interviews with enterprises, securing of cooperative projects, and new product launches.
Jinhua has a long history of developing its electric tool industry. It has established a complete industrial chain that covers components, complete machines, and integrated applications, with over 200 types of complete machine products and more than 2000 types of spare parts.
The local supporting rate of the industrial chain exceeds 70 percent. Furthermore, the city’s output of electric tools accounts for approximately one-third of the national total, while the output of garden tools accounts for about half of the national output.
Last year, Jinhua was home to 448 electric tool enterprises above designated size, generating a combined output value of 47.76 billion yuan ($6.63 billion), an increase of 5.9 percent year-on-year.
Jinhua has established a robust working mechanism featuring industry planning, supporting policies, and a special fund to provide substantial support to the electric tool industry. Authorities have also set up a series of innovation platforms, including the Yangtze River Delta Hardware Institute, to expedite the technological innovation of the sector.
The fair has been a barometer and weather vane of the global hardware and electrical machinery industry since its establishment in 1952.
