Chinese President Xi Jinping recently visited Luoyang LYC Bearing Company, once again emphasizing the central role of high-end manufacturing in the country's economic development. The visit not only reflects the government's high regard for the real economy and equipment manufacturing industry, but also points out the direction for the intelligent, green and high-end development of China's bearing industry.
Xi Jinping's visit emphasize techonological innovation and independent control
During his visit, President Xi went deep into the production workshop of Luoxia to learn more about the enterprise's progress in high-end bearing research and development, intelligent manufacturing, digital transformation and other aspects. He pointed out that bearings, as the “joints of industry”, are crucial to high-end equipment manufacturing, and must accelerate the key core technology research and development, and enhance the independent and controllable capability of domestically produced high-end bearings.
“We should adhere to innovation-driven development and promote manufacturing in the direction of high-end, intelligent and green.”--Xi Jinping, President of China
President Xi's speech released a clear signal: China will continue to increase support for bearings and precision manufacturing, industrial basic parts and other key areas, to promote the “Made in China” upgrade.
China's bearing industry development status: from import dependence to independent breakthroughs
Bearings are the core components of machinery and equipment, widely used in aerospace, high-speed rail, wind power, robotics, new energy vehicles and other fields. For a long time, the high-end bearing market has been monopolized by international giants such as Sweden SKF, Germany Schaeffler (FAG/INA) and Japan NSK. However, in recent years, China's bearing industry represented by Luoxia, Waxial (ZWZ) and Renben Group are accelerating the breakthrough of technical barriers and gradually realizing import substitution.
Key breakthrough areas:
✅ High-speed railway bearings - China's self-developed high-speed railway wheelset bearings have entered the stage of commercialization, reducing dependence on imported products.
✅ Wind power spindle bearings - The large megawatt wind power bearings researched and developed by Luoxi have successfully broken the foreign monopoly, supporting the independent control of China's wind power industry.
✅ Shield Bearing - China's super-large shield main bearing has made a breakthrough, helping China's infrastructure to go global.
✅ Aerospace bearings - China Aerospace Science and Technology Corporation (CASC) and other enterprises have made significant progress in the field of special bearings.
Intelligent and Green: The Future Trend of China's Bearing Industry
Driven by the “dual-carbon” goal and Industry 4.0, Chinese bearing companies are accelerating digital transformation and green manufacturing:
Intelligent manufacturing - Companies such as Luoxia and Renben have built intelligent production lines, applying technologies such as industrial internet, digital twin and AI quality inspection to improve production efficiency and product precision.
Green Bearing - Research and development of low-friction, long-life, recyclable bearings to reduce energy consumption and contribute to sustainable development.
Global Bearing Market Landscape: China's Share Continues to Rise
According to Statista data, the global bearing market size of more than 120 billion U.S. dollars in 2023, China accounted for about 30%, is the world's largest bearing producer and consumer. With the outbreak of new energy vehicles, robots, high-end equipment and other industries, Chinese bearing companies are expected to occupy a more critical position in the global supply chain.
Expert Opinion:
China Machinery Industry Federation expert:
“President Xi's visit shows that the country will continue to strengthen its support for high-end bearings and other industrial basic parts, which is crucial to improving the overall competitiveness of China's manufacturing industry.”
“Chinese bearing companies still need to make continuous breakthroughs in the fields of material science, precision machining, and lubrication technology in order to truly realize the leap from 'following' to 'leading'.”
Conclusion: China's bearing industry ushered in the golden period of development
President Xi's visit to Luoxia is not only an affirmation of China's bearing industry, but also a strategic guide to the future development direction of high-end manufacturing industry. Under the triple drive of policy support + technological innovation + market demand, China's bearing industry is accelerating towards the global high-end market, helping to realize the strategic goal of “Made in China 2025”.