Tianma Bearing uses R&D to move upmarket

Editor's Note: In this ongoing series on the birth and growth of privately owned Chinese companies that are redefining innovation, China Daily profiles Zhejiang Tianma Bearing Group Co Ltd, one of China's major private manufacturers of bearings, which plans to add to its research and development of high-end materials for the aerospace and auto industries.

Zhejiang Tianma Bearing Group Co Ltd, the major private manufacturer of bearings, equipment and materials in China, is investing more than 400 million yuan ($60 million) on the research and development of high-end materials for the aerospace and auto industries, to deal with the market downturn.

"We will only produce high-end bearings and materials in the future," said Ma Xingfa, chairman of Zhejiang Tianma.