From January to June in 2014, China exported 2.59 billion pieces bearings in total and earned foreign exchange for USD 2.4 billion, increasing by 14.23% and 6.92% than the same period of last year. From the export destination, Asia has still been the major market of domestic bearing exportation, capturing 46.77% of the total amount for the foreign exchange, but the increasing speed present weak negative growth at -0.74. Europe is the second major importer of our bearings exportation, occupying 26.75% of the total foreign exchange amount and growing by 16.4% year-on-year.
America is the third major destination of our bearings exportation, capturing 23.5% of the total foreign exchange amount and growing by 13.03 year-on-year. From the foreign exchange earning of bearings, Asian demand remains basically compared with the same period of last year, while European demand increase greatly and American demand shows a good rising tendency. From different nations, the United States remain to be the first major exporter of Chinese bearing exportation, with a 15% of the total foreign exchange amount and a growth by 15.5% year-on-year, which presents the signs for European and American economic resurgence.
As the hardware and bearings business are still steeped in the growing rate at 30% of the revenue for 2010, they are facing the crisis of the sharp fall of the revenue growth rate for 2011. This year the growing rate for revenue may fall into 12.0%.
There is more pressure on bearing business in 2011 and a reduction on growing speed of bearing industry, which supposed to pay high attention to by the bearing enterprises.
Because of the survival of the fittest in the market, bearing companies should try best to explore, innovate, and analyze developing information of bearing industry and their own actual conditions continually to make proper decisions for development as soon as possible. The China Bearing Industry hopes that enterprises in the business could attach great importance to the 12th national five-year development program of different main engines and bearings industries. The development direction of key products should be studied in national strategic emerging industries.
So far, driven by the development of rail transit, medical instruments, new energy sources, aerospace, and automotive light-weighting industries, domestic bearing casting business is enhanced obviously. Bearing casting business keeps steady advance in traditional market, while develops emerging industries positively. Even the fringe market neglected in the past has been developed. National hardware and bearing casting business takes important mission for Chinese high-end equipment nationalization, which improves rapidly. Domestic bearing casting business draws up the industrial program for development including projects and exportation under the instructions of the 12th five-year plan.
Related programs points out that the construction of HSR reaches a unprecedented height with national railway investment of 700 billion for infrastructure. It brings about much more opportunities for the whole HSR equipments' market in the period of the 12th five-year. According to ''the medium and long terms for adjustment of railway network program in 2028'', 42 passenger special lines for HSR will be constructed in 2012 and the total mileage will be more than 0.013 million kilometers. The power trains group will bring about new demands for 800 trains. The mileage of HSR will be 0.018 million kilometers and it will offer a wide market for Chinese bearings of HSR. Domestic bearing market will be more than 2 billion RMB. But the market of HSR bearings has been captured by Swedish SKF, German FAG, and Japanese NTN. Even several domestic companies have ability to produce power train bearings that its speed reaches 200 kilometers per hour, related purchase departments still adopt exporting parts