Wires and cables are indispensable basic equipment for transmitting electric energy, transmitting information, and manufacturing various motors, electrical appliances, and meters. They are essential basic products in the future electrification and information society. The wire and cable industry is also a supporting industry, and the products must meet the performance requirements of each main industry. Most industries in the national economy are related to wires and cables. Therefore, wires and cables have been referred to as the "blood vessels" and nerves of the national economy.

In the past ten years, China's wire and cable industry has made considerable progress, and once exceeded the United States in the industry output value of 1.1 trillion yuan and ranked first in the world. At present, the global wire and cable market has exceeded 100 billion euros. Within the global wire and cable industry, the Asian market accounts for 37%, the European market closes to 30%, the American market 24%, and other markets 9%. With the continuous advancement of my country’s grid smart grid construction and the corresponding rural power grid transformation projects, and entering the actual construction stage, the development of the domestic wire and cable industry has also ushered in development opportunities, but behind the prosperity, the internal problems of the industry are still very bad status.

At present, the technical strength of my country's cable industry is not very strong, and it lags behind similar foreign products in many aspects. When the smart grid is temporarily coming to an end after three years of construction, the domestic cable industry may usher in a new round of industrial depression. Therefore, while the domestic cable industry is developing rapidly at the same time, further increase investment in technology research and development to create a large and strong local industrial chain.