After the outbreak of the international financial crisis in 2008, China adopted a proactive fiscal policy, increased infrastructure investment, promoted economic development, and responded to the financial crisis. Benefiting from the development of related industries, bearing production and sales have rapidly expanded, profit levels have been improved, and industry development has accelerated significantly. In 2010, China's bearing industry realized sales revenue of 151.969 billion yuan, a year-on-year increase of 39.45%; realized industrial output value of 151.434 billion yuan, a year-on-year increase of 38.04%; profit was 9.812 billion yuan, a year-on-year increase of 69.37%. According to the "China Bearing Manufacturing Demand Forecast and Transformation and Upgrading Report" issued by the Foresight Industrial Research Institute, German Schaeffler Group, American Timken Company, Japanese Sk Company, and ntn Company, in recent years, world-renowned companies have entered Chinese bearings. In the market, production bases such as the Swedish skf group have been established. These companies not only operate globally, but also manufacture globally. Relying on the advantages of brand, equipment, technology, capital and production scale, they have launched fierce competition with domestic bearing companies. At present, domestic enterprises are mainly engaged in the production of general-purpose bearings, while there are few manufacturers of special bearings and high-end bearings, and the technology is not yet mature. Therefore, if domestic enterprises want to compete with or even surpass foreign advanced bearing brands, they also need to experience a long-term development process in terms of technology.
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