Zhoushan company selected as key national enterprise

A worker fine tunes the blades of a screw of an injection molding machine at Xihou Industrial Zone in Jintang town, Dinghai district, Zhoushan, East China's Zhejiang province. [Photo/zj.zjol.com] 

The Ministry of Industry and Information Technology recently announced a list of 248 key companies to support in the future. Nineteen companies are from Zhejiang province, including Zhejiang Huaye Plastics Machinery Co, the only one from the city of Zhoushan.

Officials said the selected companies are among the top medium and small sized enterprises that have strong innovative capacity, large market shares, core technologies and excellent performances.

The ministry has launched a plan to support such companies aiming to promote innovation, tap into international markets, improve their management and accelerate their intelligent transformation, in the years from 2018 to 2020. 

Zhejiang Huaye Plastics Machinery Co, located in the city's Jintang town, is a leading manufacturer of screws, barrels and tie bars in China. It occupies 17 percent of the province's injection molding machine screw market, and 12 percent of the nation's, the most among China's screw manufacturers.

The company established China's first academician workstation in 2013 to strengthen its R&D, and has obtained 30 patents since 2014. 

Jintang town is currently the nation's biggest production center for injection molding machine screws, taking up over 75 percent of the domestic market share.