Since the founding of new China, China has made great achievements in the field of bearing industry. However, with the continuous development of science and technology and industrial modernization, the requirements for bearing products in different application fields are getting higher and higher. No matter in the capacity of new product research and development, product quality level, or production technology level, compared with the world's major bearing producing countries, China's bearing industry strength still has a big gap, is not a powerful country in the bearing industry.

In recent years, world famous enterprises have entered the Chinese bearing market and established transnational production bases, such as Sweden Group, Timken Company, Schaeffler Group, Japan Company and so on. Under the strategic map of global operation, these companies have expanded the global manufacturing, and developed fierce competition with domestic bearing enterprises by virtue of the great advantages of influential brands, production equipment, technology, financial strength and production scale. China's existing bearing processing enterprises are mainly engaged in the production of general bearings, but there are few enterprises capable of manufacturing special and high-end bearings, lack of technical level and lack of brand influence. In the foreign exchange earned by China's bearing export of 100 million US dollars annually, the export of technology-intensive high-end products such as tapered roller bearings, spherical roller bearings and cylindrical roller bearings with high technical content and high added value accounts for less than the proportion of the total export, and most of them are products with relatively low technical content.

In recent years, China has exported a total of 100 million sets of bearings, earning foreign exchange of 100 million dollars, imported a total of 100 million sets of bearings, foreign exchange of 100 million dollars, import and export deficit reached 100 million dollars. In 2005, the total profit of China's bearing industry was 100 million yuan, and the total inventory of bearing products increased from 100 million yuan in the same period of the year to 100 million yuan, increasing compared with the previous year. China's bearing industry lacks core technology, and the development of high-end bearings is struggling. The small and medium-sized bearing industry cannot meet the basic production needs because of the problem of capital turnover, and the bearing market demand is also shrinking sharply. If domestic bearing processing enterprises want to compete with foreign advanced bearing brands and even catch up, they still need to experience a long period of development in technological innovation and process improvement. According to the current situation of China's mechanical and electrical industry and the requirements of the main engine industry, the development of bearing industry should be gradually transformed from capacity regulation model to quality-benefit model.