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In the hardware industry, there has been a noticeable improvement in the quality of professionals over recent years. For instance, the leadership of China Hardware City, the country’s largest hardware market under construction in Beijing, includes many individuals with advanced degrees, such as doctors and postdoctoral researchers. This shift reflects a broader trend: as people become more conscious of their lifestyle, they are increasingly demanding that hardware products be more intelligent, user-friendly, and adaptable to modern living. Despite its crucial role in home appliances and daily life, the high-end segment of the domestic hardware market is still dominated by foreign brands.
The steady growth of China’s hardware industry can be attributed to three main factors. First, the overall quality of professionals in the sector has improved significantly. Many key players now come from academic backgrounds, bringing new ideas and expertise into the field. Second, technological and managerial capabilities have seen substantial progress. In the early stages, Chinese companies adopted foreign technologies and management practices, and today, many have developed strong internal competencies. Third, the industry is undergoing a transformation phase, moving from mid-to-low-end production to a focus on high-quality, premium products. This shift not only enhances the industry's global competitiveness but also brings in advanced foreign manufacturing techniques and management systems.
Additionally, there is a huge demand for hardware components. After more than a decade of development, China has become the world’s largest producer of hardware products. Annual exports have been growing steadily, with an average increase of around 8% per year. Last year alone, hardware exports surpassed $5 billion, placing the sector third among light industries in terms of export volume. Looking ahead, with continued improvements in manufacturing and production capacity, it is expected that China’s hardware industry will maintain annual growth of over 10% for the next five years. In the first ten months of this year, the total import and export volume of hardware and electromechanical products exceeded $500 billion, with a trade surplus of $7.06 billion—accounting for 64% of the national trade surplus during the same period.