Analyses of China Bearing Industry In First Half Of 2005
Resource from: CBCC Likes:2987
Nov 11,2005
China bearing industry experienced a continuous growth although adversely affected by soaring bearing steel price and short supply of electricity in the first half of 2005. The various economic indicators as sales, output capacity, profit and revenue increased to a higher level. With the increasing export and declining import in bearing industry, the favorable balance raised further.
According to statistics, the number of stated-owned enterprises and some private enterprises with annual sales income of RMB 5 million is 1024 and their output capacity totaled 3.15 billion sets, up 17.5% as compared to the same period of the prior year. The production value reached RMB 25.4 billion years-to-date, an increase of 21.88%. The sales increased to RMB 24.3 billion, up 25.05%. Sales income for the half year was up 24.7%, to RMB 24.08 billion. The profit was 1.24 billion, up 20.29%.
Among these 1024 enterprises, the sales income of 81 enterprises exceeded RMB 100million. The sales income totaled 14.1 billon, 58.8％ of the whole bearing industry. There were 62 enterprises with the profit of over RMB 5 million. The profit totaled 1.1 billion, 88.7% of bearing industry. The products sales ratio increased 0.08% , to 96.43％.
According to the statistics form State Custom Committee, the bearing exported for the half year rose 18.05% to 1240.3699 million sets. Foreign exchange hit $694.2627 million, an increase of 38.01%. While, the bearing imported was 756.9128 million sets, up 10.34% and the favorable balance was up to $ 66.392 million.
But the negative factors shouldn’t be neglected:
Firstly, the technology developed relatively slowly. Form the proportion of stated-owned enterprises, civilian-enterprises and foreign investment enterprises, we can notice that the foreign enterprises are mushrooming in China, which will result in the fiercer competition. So it is our first job to adjust product structure and focus on technology innovation and bearing quality. Secondly, giving an impulse to enterprise merger and acquisition. Thirdly, correct investment guide are necessary. Last but not the least, cracking down on counterfeit bearings and increasing the influence of China bearing worldwide.
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