The China Hardware Products Association recently announced that after 30 years of significant development, China has become a major global tool manufacturing center and consumer market. In addition to fully meeting the domestic market demand, hand and electric tools produced in China are also exported in large quantities to various parts of the world. Shi Senglan, Executive Vice Chairman and Chairman of the Tool Branch of the China Hardware Products Association, said in an interview with reporters that China's tool and hardware industry is currently in a critical period of enhancing core competitiveness. Mainstream enterprises in the industry are increasing investment and transformation in technology and equipment to pursue a healthy development path of low-carbon, environmental protection, and energy conservation. Domestic tools have set development goals for the next 5 years, striving to achieve transformation and improvement from quantitative to qualitative through joint efforts of the entire industry. 
Shi Senglan said that currently, 70% of the total global tool production is completed by enterprises in China, the United States, Germany and other regions. Among them, Chinese tool manufacturing plays an important role in the global industrial chain. According to statistical information from customs, during the 11th Five Year Plan period, the annual growth rate of China's tool exports exceeded the total value of various tools exported by China in 202010, exceeding 8 billion US dollars; From January to June this year, the export volume reached 4.904 billion US dollars, a year-on-year increase of 25.4%. Currently, more than 160 countries worldwide have Chinese tool products. 
It is reported that in the next five years, domestic tools will strive to achieve new breakthroughs in product development, standard formulation, and market expansion. There are 5 specific development goals:
On the basis of stable growth, the entire industry aims to achieve an export value of 10 billion US dollars by 2015, with domestic brand exports striving to reach 10-15. Secondly, it guides leading backbone enterprises to form a joint force through equity optimization and allocation, and participate in international market competition. In this process, enterprises with high energy consumption and high pollution should be basically eliminated. The third is to introduce advanced management systems, increase research and development innovation efforts, strive to establish one to two provincial-level or engineering technology centers, ensure that the funds used for research and development innovation are not less than 5% of sales revenue, and half of the patents that have been applied for or obtained must be put into actual use. We should encourage large enterprises to focus on quality management, establish high-level laboratories equipped with advanced professional testing instruments, and use them for daily quality supervision. We must expand the visibility of Chinese brands in the international market and strive for more Chinese made tool products to enter high-end foreign markets; At the same time, increase the share of high-end domestic products. 
Shi Senglan said that in order to achieve the above goals, the first step is to vigorously cultivate Chinese tool brands, especially to increase and expand the awareness of Chinese tool independent brands in domestic and foreign markets, so that enterprises can continuously improve their competitiveness in the process of cultivating and creating brands, increase investment in technology and equipment, and strive to form a group of enterprises with an annual output value of 1 billion yuan in the next 5-10 years, and cultivate 3-5 world-renowned tool brands and a large number of well-known domestic tool brands. 
Zhang Dongli, Chairman of the China Hardware Products Association, added that during the 12th Five Year Plan period, the domestic tool industry should increase its pace of transformation and upgrading. Production enterprises should pay more attention to quality, safety, and technological innovation. Only in this way can China's tool industry achieve the transition from a manufacturing powerhouse to a manufacturing powerhouse. At the same time, the entire industry cannot engage in vicious competition. Peers should work together to compete and cooperate with international peers, and promote the development of their own and the global hardware industry through cooperation. 
At present, a group of well-known enterprises have emerged in the Chinese tool industry, such as Shandong Wendeng Power Tool Group and Zhejiang Ningbo Great Wall Precision Industry Co., Ltd. These business leaders have also expressed their views on the development direction of the industry in the next five years and the development priorities of the enterprise. Yu Xingjiang, Chairman of Shandong Wendeng Power Tools Group, said that the rapid economic growth and significant increase in income have led to an increasing demand for high-end and branded tools in the market, which is also the key to enhancing the competitiveness of domestic tools in the future. Like other manufacturing industries in China, domestic tools are currently facing challenges such as rising labor costs, shortage of supporting products, insufficient electricity resources, and increasingly strict environmental requirements. To achieve healthy development in the face of these difficulties, Wendeng Power Tools Group has determined the development principle to further strengthen the company's flagship products represented by adjustable wrenches, pliers, sleeves, and assembly tools, and increase the transformation efforts of their production lines to ensure high efficiency and high quality. At the same time, strengthen the brand. At present, Wendeng Power Tools Group has registered its previously exported brand MAXPOWER as the Maibo brand in China and established Wendeng Maibo Tools Co., Ltd. with an investment of 100 million yuan for the construction of the brand. 
If a manufacturing industry does not have its own brand, it can only make wedding clothes for others. How can enterprises build a global brand? This cannot be achieved simply by creating a few advertisements. It requires a strong support system composed of factors such as product quality, technological level, brand strategy, intellectual property, and corporate culture. Since its establishment in 1984, Great Wall Precision has established a sense of brand creation and brand protection through fairness. It has formulated the Five High Action Guidelines for introducing high-precision equipment, high-tech, senior talents, and setting high standards and producing high-quality products, achieving impressive results. Great Wall Precision strives to focus on the development of the global tool industry in the next five years, and approach global brand goals through persistent innovation.