China Bearing Output Exhibited 17% Growth in 2011

2012-03-15

The latest statistics indicate that the sales of the bearing industry in China would grow about 15% in 2011 while the bearing output will grow about 17%. The main bearing industry growth was attributed to the high performance in the first half in 2011.
The output of the key bearing companies in the first 10 months in 2011 increased 12.46% compared to that of 2010, the main operation income increased 13.78% and the business income increased 15.64%. In the second half of 2011, the Ministry of Industry and Information Technology of PRC issued Development Plan for Machine Components, Manufacturing Process and Mechanical Materials Industry in the 12th Five-Year Plan, in which the Ministry listed bearing industry as the target developing industry. It is estimated that the sales of the bearing industry in China by 2015 will reach RMB222 billion and the industry annual average growth rate will be about 12%-15%.