The valve industry belongs to the equipment manufacturing industry. The equipment manufacturing industry is a strategic industry that provides technical equipment for various industries in the national economy. It has a high degree of correlation, strong ability to absorb employment, and intensive technical capital. It is an important guarantee for industrial upgrading and technological progress and a concentrated manifestation of the country's comprehensive strength. Therefore, the state attaches great importance to the development of equipment manufacturing industry, and will take policy measures to encourage and support the industry in a relatively long period of time. In order to cope with the impact of the international financial crisis and promote the independent innovation and industrial upgrading of my country's equipment manufacturing industry, my country's "Equipment Manufacturing Industry Adjustment and Revitalization Plan" clearly puts forward the planning goal of stabilizing the domestic market satisfaction rate of domestic equipment at about 70%. Relevant state departments have successively formulated and deployed valve localization plans for major equipment in related fields in accordance with the policy requirements for the localization of major equipment. Valves are one of the key devices in fluid control systems and are generally used in liquid or gaseous fluid control environments. Therefore, valves are widely used in various industrial segments involving fluid control.

At present, the main valve application fields include: oil and gas, electric power, chemical industry, tap water and sewage treatment, papermaking, metallurgy, pharmaceutical, food, mining, non-ferrous metals, electronics and other industries. Among them, the fields of oil and gas, energy, power and chemical industry are the most important application fields of valves. The high-end industrial valve market is composed of a large number of market segments. Valve products facing these markets have strict quality requirements and high technical content. The market is mostly monopolistic competition with high profit levels. The market is mainly composed of Europe, the United States and Japan. of internationally renowned companies. However, with the continuous improvement of technical level, process level and material technology, the leading domestic enterprises represented by Neway Valve have gradually penetrated into the high-end valve market.

Fixed asset investment is one of the main driving forces of my country's economic growth. Taking into account the acceleration of domestic urbanization and industrialization and the continuous advancement of infrastructure construction, it is expected that investment in fixed assets will remain an important force in promoting my country's economic development for a long period of time in the future. In energy, electric power, chemical, metallurgy, papermaking, water treatment and other industries, there are still major national engineering projects including the fourth and fifth lines of the "West-East Gas Pipeline" that have been under construction one after another. Valves are widely used in various fields of the national economy, and the rapid growth of investment in fixed assets will drive the continuous increase in domestic demand for valve products. After years of development and accumulation, except for some special fields, the gap between domestic manufacturers and foreign manufacturers in terms of production technology is constantly narrowing. Moreover, with the improvement of the overall technical level of the domestic manufacturing industry, the domestic valve industry has also received certain technical support in the fields of production machine tools and production materials, which not only makes the domestic valve industry corresponding in terms of product quality and product types. It also reduces the cost of domestic valve products, which helps to improve the core competitiveness of domestic valve enterprises.