Petrochemical equipment manufacturing industry is the foundation of a country's industrial development, and it is also a core component of the manufacturing industry. It bears the heavy responsibility of providing production technology and equipment for the national economy and national defense construction. The establishment of a strong equipment manufacturing industry and the realization of localization of high-end equipment are fundamental guarantees for enhancing China’s overall national strength and modern industrialization. Due to the lagging industrial development of the “three bases†(including mechanical basic parts, basic manufacturing processes, and basic materials industries), high-end equipment manufacturing companies in China have to import relevant supporting parts and components from abroad at a high price, leading to a significant increase in the cost of high-end equipment manufacturing and compression. The profit space of related companies has severely restricted the development of China's high-end equipment manufacturing industry. Because of this, the "Twelfth Five-Year Development Plan for Machinery Basic Parts, Basic Manufacturing Processes and Basic Materials Industry" officially released by the Ministry of Industry and Information Technology recently pointed out that "the current development of China's "three-base" industry has lagged behind the host and is solidified in the industrial chain. The low-end situation should be reversed as soon as possible, and it is imperative to promote the overall level of the "three-base" industry and international competitiveness." “12th Five-Year Development Plan for Mechanical Basic Parts, Basic Manufacturing Processes and Basic Materials Industry†clearly spurs the development of the “Twelfth Five-Year Plan†as a focal point for the development of high-speed, precision, heavy-load bearings and other mechanical basic parts that are strong and have large radiation effects. The industry will focus on improving performance, reliability and longevity, and strive to bring it to or near the international advanced level. "Planning" also pointed out that under the support of policies, by 2015, the bearing industry's sales will reach 222 billion yuan, the industry's average annual growth rate will be between 12% -15%, including high-speed, precision, heavy load and other high-end Bearings will grow faster. Bearing is an important and key basic component in the equipment manufacturing industry. It directly determines the performance, quality and reliability of major equipment and main products, and is known as the "heart" component of equipment manufacturing. After years of development, China's bearing industry has formed a considerable scale, the national bearing industry in 2010 production value of about 130 billion yuan, ranking third in the world. Although the development scale of China's bearing industry has been very large, but most of them are concentrated in the low-end, and in the field of high-end bearing manufacturing, China still has a considerable gap compared with developed countries. Wang Quanqing, secretary general of the China Bearing Industry Association, also made it clear that the development speed of high-end bearings in China has not kept pace with the development speed of the host. For example, China has mastered the high-speed EMU technology with its own intellectual property rights, but the bearings it supports are also basically dependent on imports. At present, most of the high-speed bearings produced by domestic bearing enterprises can only meet the trains of 150-180 kilometers, while high-speed railway bearings in Europe and America can meet the needs of trains operating at speeds of 350-400 kilometers per hour. Bearings basically rely on high-priced imports. Based on the fact that China's high-end bearings are backward, the "plan" clearly states that it will give full play to the guiding role of industrial policies, improve industry entry barriers, and curb low-level redundant construction; give "triple-based" industries including the bearing industry, including fiscal and taxation support policies. We will implement the tax exemption policy for import of key components and raw materials, and study and formulate policies that encourage users to adopt the "triple-based" new products and new technologies. With the increase of policy support, it is believed that China’s bearing industry will usher in the spring of development, and will accelerate the localization of high-end bearings, providing a solid foundation for the complete localization of China’s major equipment manufacturing. Chongqing Yuntu Automobile Trading Co., Ltd. , https://www.yuntuauto.com