At present, the development of China's bearing industry environment is undergoing profound changes. The long-term accumulation of deep-seated contradictions has become increasingly prominent. As the extensive growth pattern is unsustainable, transformation and upgrade are what we must do to promote industry to better and faster development. Transformation is to transform the mode of development to innovation-driven, endogenous growth, intensive and efficient, green, low carbon, domestic demand- leding transformation; Upgrade is to fully optimize industry structure, organization structure, technology structure and product structure and the layout structure so as to promote the overall industrial structure optimization and upgrading. Through the transformation and upgrading, we can not only accelerate the realization of the transformation from the traditional industrialization road to the new road of industrialization but also improve the core competitiveness of China's bearing industry and sustainable development capacity to achieve scientific development.
Favorable policies in the country, the market demand for the expansion of the situation, the bearing industry, while increasing the size of the economy, bearing industry and economic integration of the new format is also further strengthened. Following the bearing industry into the Internet e-commerce market, the new rise of the mobile Internet has become a new field of bearing industry. Along with the increasing of the downstream applications demand new and repair and renovation of demand, bearing industry from low-end to high-end product structure upgrade, to further open up the international market, we expect bearing industry future 5 years with an average annual growth rate of around 15%, high-end products faster growth is expected in about 20%. The bearing industry has characteristics of "evergreen centuries".
Industry of the economic types of enterprises have been rapid development, ZWZ, as the representative of the large state-owned enterprises maintained a strong momentum of development, industry has become the backbone of the backbone, Tianma, Wanxiang Qianchao, the as representative of the rapid development of private enterprises. In recent years, China's bearing industry has gradually formed the characteristics of regional development, production capacity and product level, professional and collaborative capabilities are further improved.