China Bearing Industrial Grew Rapidly in the First Half of 2007
Resource from: Sally-CBCC Likes:2920
Jul 31,2007
China Bearing Industrial Grew Rapidly in the First Half of 2007
China bearing industrial profits grew rapidly by the end of June, 2007. Mr. Zhang Qiaofan, the director of CBIA said the increase for the second half will be up on those for the first part of the year. It is expected in the whole year the bearing output will reach 8 billion sets and the seals will hit RMB 76 billion, of which RMB 2 million will from export.
Statistically，the sales of bearings in the first half of 2007 hit RMB 38.2 billion, 20% higher year-on-year. The sales of 95 leading enterprise increased 21% to RMB 13.2 billion.
The bearing output from January to June reached 4 billion sets, of which 1.2 billion sets were from the 95 leading companies.
According to the custom statistic, the bearing export in the first half was US 945 million dollar, an increase of 21.5% when compared with the same period of 2006. The import hit US 986 million dollar, 23.7% higher year-on-year. The trade deficit was US 40 million dollars and expected to be more in the second half.
In the first half of 2007, the profit of the 95 leading companies totaled RMB 1.02 billion, a year-on-year growth of 2.9%. The revenue hit RMB 570 million, 13.81% higher than last year.
The increasing development of China bearing industry mainly attributed to:
A.The launch of National Equipment manufacturing Strengthening program has accelerated the development of China machinery.
B.Many companies increase capital input for manufacturing equipment in this complete implement period of the eleventh five-year plan.
C. Companies reconstruction and adjustment
d. Policy adjustment on import and export
As last, Mr.Zhang concluded two problems in current China bearing industry:
a.The increasing stock, which brings much finicial press on bearings companies.
b.The increase of export is lower than import, which indicated our high-tech bearings still rely in import.
(Sally-CBCC)
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