Hubei Cheqiao, a leading axle manufacturer in Hubei Province, recently completed the commissioning of its new axle detection test stand. This advanced system allows real-time monitoring of axle speed through computerized controls, significantly improving product quality and ensuring it exceeds industry standards. The innovation marks a major step forward in the company's commitment to technological advancement.
Over the past few years, Hubei Cheqiao has collaborated with institutions like Wuhan University of Technology to develop nearly 30 high-standard technological projects. These partnerships have enabled the company to introduce world-class equipment, positioning it as a key supplier for major bus manufacturers such as Foton, Dongfeng, and Jinlong.
As the axle industry in Hubei continues to evolve, a growing number of local auto parts companies have emerged to support this development. Recognizing the potential, Public Security County has actively nurtured the local axle industry cluster, aiming to create a strong and sustainable industrial ecosystem.
To maximize the benefits of the cluster, the county has focused its investment efforts on core product lines, reducing procurement distances and lowering operational costs. Financial institutions have also responded positively, increasing credit facilities for the axle industry by over 30%. In addition, companies have boosted R&D investments, allocating more than 3% of their sales revenue to research and development, further strengthening their competitive edge.
These strategic initiatives have helped extend the industrial chain and establish a leading industry cluster. In the first half of this year alone, Hubei Cheqiao launched 117 new products, capturing 16% of the national market share. Last year, the total industrial output value of axles in Hubei reached 413 million yuan, driving an additional 400 million yuan in related production and sales.
Today, the county is home to 43 auto parts enterprises, employing over 4,300 people. This growth highlights the success of the local axle industry and its positive impact on the regional economy.
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