Bearings are indispensable core basic components in modern machinery and equipment, and are called "mechanical joints". The bearing industry is a national basic strategic industry, which plays an important supporting role in the development of the national economy. 　

At present, Luoyang has become the bearing production base with the largest product size range, the widest application coverage and the most complete variety in the domestic bearing industry. Luoyang has formed an annual production capacity of 200 million sets of bearings. In recent years, it has successively produced a series of results in the development of the bearing industry.

According to the plan, Luoyang City will cultivate high-end, large-scale, and serialized bearing industry clusters, create a group of industry-leading enterprises with international competitiveness, and drive overall enhancement of bearing industry production technology level, intelligent level and core competitiveness of Luoyang city.

Strive to reach 20 billion yuan in operating income from luoyang bearing and basic parts industry by 2021; Efforts will be made to create a number of bearing and basic parts industry clusters with distinctive characteristics and core competitive advantages such as advanced manufacturing clusters, Luolong industry clusters, and Yiyang industry clusters. By 2023, promote the loading trial of rail transit vehicle bearings and high-speed rail bearings, and basically form a bearing and basic parts industry cluster with Jianxi District, Xin'an County, and Mengjin District as the mainstay, with good development momentum, relatively complete industrial chain, and outstanding competitive advantages. By 2025, Luoyang bearing and basic parts industry will have an operating income of 50 billion yuan, and a leading domestic bearing R&D and production base will be basically built.

Luoyang Bearing Research Institute Co., Ltd., located in Luoyang city, is a high-tech enterprise specializing in the development of "high-rank, precise, advanced, unique, special" bearing products for the key units in various fields of national economic construction.