Guangdong Bearing Industry's Rapid Growth
Statistically, in the first-half the local key bearing enterprises created an output of 30.08 million sets, up 4.3% from 2004; sales hit RMB216.16 million yuan, more than half of wich was earned through export; profit hit RMB17.55 million yuan, up 89.1% from last year.
In Guangdong, emphasis was placed on the transformation of bearing enterprises' management model. Economic structure was changed in the former state-owned enterprises: some became state-owned stock company; some closed down; some carried out assets reorganization. Nowaday, half of the local bearing enterprises are running under non-public ownership system.
According to Mr. Liu, rapid growth of Guangdong's bearing industry was due to their awearness of the market trends and constantly developing new products. In these years, Shaoguan Southeast Bearing Co.,Ltd spreaded their hub bearings to the outside world. This company's annual capacity has reached 8million sets, 80 percent of which were exported to foreign countries and regions. Jiangmen Machinery Equipment Co.,Ltd developed fast these years. They specialized in miniature deep groove ball bearings whose annual output/value increased at an average rate of 30 percent. And Dongguan TR Bearing Co.,Ltd which dealt with spherical surface bearings with housing, ranked in front when it comes to output, value, types or sales.
Guangdong province is located in the coastal area of southern China. Capital city is Guangzhou.
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