Bearing Industry in China keeps rapid growth

By the end of June of 2007, China bearing industry has maintained continuous and fast increase, said Zhang Qiaofan, President of China Bearing Industry Association.

Based on the statistics from 95 of  top 112  China’s bearing groups and companies in January – June of 2007, the output of bearing were 1.1878 billion sets, increasing by 7.42% compared with the same period last year. The sold quantity of bearing reached 1.302 sets, soaring by 15.85% compared with the same period last year. The sales of bearing got to 13.19 billion sets, up by 21.13% than the same period last year.

In the first half year China’s bearing export and import have developed rapidly. There were 742.949 million sets of bearing exported, increasing by 14.81% compared with the same period last year and the export value reached 944.7716 million U.S. Dollars, by 21.49% significantly higher than the same period last year. Meanwhile, there were 742.949 million sets of bearing imported, decreasing by 11.04% compared by the same period last year and the import value got to 986.2917, increasing by 23.7% than the same period last year.

Outlook for the whole year, the output of bearing is expected to reach 8 billion sets and sales will be get to 76 billion RMB, forecasted by President Zhang.

Edit: Macro