Bearing industry annual steady growth in China bearing technology breakthroughs

China Bearing Industry Association recently released the industry’s latest data show that 123 major enterprises 2021 January to October completed main business income of 88.386 billion yuan, an increase of 22.65% year-on-year, a decrease of 2.93 percentage points compared with the previous month’s 25.58%. Profit totaled 7.235 billion yuan, up 47.44% year-on-year, lower than the previous month. 115 companies by comparable enterprise caliber increased 25.12% from the same period in 2019. The top 10 enterprises in the industry, Renben, Wanxiang Qianchao, Tianma, Waxaxial, Luoyang Shaft, Wuzhou Xinchun, Luoyang Xinqianglian, Cixing, Xinhuozhuang and Xiangsha Shaft, accomplished the main business income of 52.094 billion yuan, an increase of 17.52% year-on-year, which was lower than that of the previous month.
As of October 2021, the bearing industry cumulative export earnings of 5.631 billion U.S. dollars, the cumulative foreign exchange earnings than the same period in 2020 increased by 47.11%, an increase of 5.631 billion U.S. dollars, of which the growth rate of exports to South America as high as 69.35%. Bearing imports of foreign exchange 4.603 billion U.S. dollars, the cumulative use of foreign exchange than the same period in 2020 increased by 32.78%. China’s bearing import and export trade in the month of October 2020 was a surplus of 234 million U.S. dollars, January to October cumulative trade surplus of 1.028 billion U.S. dollars.

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