Jintang town in Dinghai district, Zhoushan, East China's Zhejiang province, was designated as "China's screw capital" at the 2019 China Plastics Machinery Industry Development Summit Forum in Ningbo, Zhejiang province on Dec 12.

The summit forum was held by the China Plastics Machinery Industry Association, the Ningbo municipal bureau of science and technology, and the Ningbo municipal bureau of economy and information technology.

Jintang, located in the southwest area of the Zhoushan Archipelago New Area, is a town dominated by the screw industry and ranked among the top 1,000 most successful towns in China this year.

After nearly 40 years of development, the town has become the largest screw production center in the country.

According to official data, over 75 percent of screws in the country are produced in the town.

In recent years, the Jintang town government has been cooperating with associations and enterprises in the screw industry and working to transform and upgrade the industry in an effort to drive the high-quality development of the local economy.

To date, the town has a total of 328 enterprises engaged in the production and marketing of screws, 60 of which are leaders in the screw industry.

Last year, the annual output value of the village’s screw industry amounted to nearly 5.7 billion yuan ($814 million), a year-on-year increase of 11.9 percent, ranking first in China and contributing about 230 million yuan in tax revenue to the local government.

The annual output value of the local screw industry is expected to exceed 6 billion yuan by the end of this year.