Financial Support Drives Bearing Industry Toward High-End Manufacturing

As a critical foundational component of mechanical engineering, the performance of bearings directly impacts the quality and operational efficiency of entire machinery systems. In the first half of 2025, with financial policies continuing to favor key manufacturing sectors, the bearing industry has entered a crucial window for transformation and upgrading.

Driven by both policy and capital, several major domestic bearing enterprises have accelerated equipment upgrades and technological transformation. For instance, Luoyang Bearing Group secured 800 million yuan in medium- to long-term loans from ICBC and China Development Bank to build smart production lines. In the first half of this year, ICBC provided an additional 127 million yuan in special loans to support the company's introduction of high-precision machining equipment, further enhancing product stability and intelligent manufacturing capabilities.

This influx of capital has not only alleviated financing challenges for enterprises but also propelled industry-wide advancement. With growing demand for high-precision bearings from downstream sectors such as wind power, new energy vehicles, and high-end equipment, bearing manufacturers are accelerating their shift toward precision engineering, lightweight design, and extended service life.

Financial resources are being strategically allocated to critical manufacturing processes. As of the end of June 2025, ICBC's technology-related loan balance approached 6 trillion yuan, while Agricultural Bank of China's manufacturing sector loans grew by over 17% year-on-year. These figures reflect how the banking system is optimizing credit structures to strengthen support for high-end manufacturing.

Beyond traditional loans, the bond market has also opened new financing channels for bearing enterprises. In May 2025, the bond market launched a "Sci-Tech Board," which had issued approximately 600 billion yuan in technology innovation bonds by the end of June. This initiative provides tech-driven manufacturers with low-cost, long-cycle funding, facilitating accelerated R&D and commercialization of innovations.

The People's Bank of China has stated that it will continue steering financial resources toward key areas of the real economy. Future financial support will emphasize closer alignment with industrial development priorities, further enhancing assistance for equipment renewal, technological breakthroughs, and supply chain collaboration.

Industry experts note that sustained financial policy support will not only help the bearing sector overcome technical bottlenecks but also drive comprehensive upgrades across upstream and downstream supply chains, laying a solid foundation for China's manufacturing industry to achieve high-quality development.