A small town in the west of Shandong, China, far away from the city, with a permanent population of only 30 000, has gathered nearly 100 000 bearing industry practitioners, 380 bearing manufacturers, more than 12 000 bearing distributors, and an annual output value of nearly 10 billion yuan. It has become a "legend" of China's bearing industry, known as "the hometown of China's bearings". As the "one hundred town construction demonstration action" demonstration town in Shandong Province and the top ten industrial clusters in Shandong Province, the town is committed to building an international bearing manufacturing base.

The town is a famous bearing distribution center in China, with the largest bearing professional wholesale market in the country, and has won the honorary titles of Shandong provincial private economic demonstration park, national key construction town, China's bearing Town, provincial characteristic industrial town, and Shandong provincial key logistics cluster.

Recently, Liaocheng's bearing industry has the following characteristics:

The scale of enterprises is expanding rapidly.

Based on the market advantage, seizing the favorable opportunity and taking advantage of the situation, the government has formulated and issued a series of preferential policies to encourage small and medium-sized enterprises to increase investment, purchase new equipment, introduce new technology, and complete the expansion and upgrading of enterprises. Encourage the professional bearing households with funds to invest in building bearing enterprises, further expand the overall scale of the bearing industry in Yantai, and establish a larger group of bearing enterprises. In 2007, 56 enterprises were expanded, with an investment of 170 million yuan, and 26 bearing distributors established their own enterprises. After more than 30 years of development, at present, there are 1021 bearing production and processing enterprises with over 60000 employees, with a total fixed asset investment of more than 3 billion yuan, which can produce and process 11 kinds of bearings, with a daily consumption of more than 800 tons of bearing steel and more than 150 tons of rolling elements. The products are sold to more than 20 provinces and regions in China, and exported to more than 40 countries and regions such as Southeast Asia, Europe and the United States.

The added value of the product is increased quickly.

In 2005, a provincial bearing quality inspection center was established with a huge investment, and an automobile bearing company was established in cooperation with Zhejiang Wanxiang Group, thus filling the gap that Shandong Province can not produce automobile bearings. The added value of the new project is high, and it has a high degree of connection with the formed characteristic industries. For example, bearing steel and bearing steel pipe are all new projects around bearing processing, which will play a role in reducing costs, enhancing supporting capacity and promoting the level of the industry in the next step.

The tax revenue of bearing industry has accounted for more than 90% of the total local tax revenue. Each village in this town has a group of business households engaged in the processing and marketing of bearing and related products. More than 1000 enterprises in the town attracted 30 000 people to work here, including 17 000 outsider and 13 000 locals.

Now Liaocheng bearing market covers an area of more than 1000 mu, has more than 3000 bearing stores, operates more than 10000 varieties of 11 kinds of bearings, and all famous bearing enterprises such as ZWZ, HRB, LYC have direct sales offices or distribution companies in liaocheng city.

The prosperity of the bearing market prompted the dealers who earned the first barrel of gold by engaging in trade to engage in bearing production since the 1990s, forming a bearing industry cluster that now takes the town as the center, radiates dozens of towns and has hundreds of thousands of employees. At present, there are 204 bearing manufacturers, including 55 Enterprises above Designated Size and 3695 bearing industrial and commercial households. In 2008, the trading volume of bearing market in the town reached 7.8 billion RMB yuan. Based on the existing bearing market, the market has been expanded ten times since 2015. The local government has formulated a medium and long-term plan for the development of the bearing industry, focusing on quality and brand building, actively seeking the support of China Bearing Industry Association, Luoyang Bearing Research Institute and various brand bearing enterprises, and striving to make the bearing industry bigger and stronger.