On the Road to Real Economy

On the Road to Real Economy
“What China has set out to do is building a real economy instead of a virtual economy or one single industry. Manufacturing would be the key to this path of real economy,” President Xi said in earnest, during his visit to XCMG headquarters in December 2017.

On the Road to Real Economy
National Aspirations for International Advancement
On the Road to Real Economy
The rooting interest in real economy is China’s determination to supply the world’s developed and developing countries with the most advanced types of products and solutions available. A country’s prosperity is a varied assemblage of leading industries which give birth to ample business opportunities, and the manufacturing industry is at the center of national development and infrastructure-building. Manufacturing of mechanized construction machinery expresses our hopes through our innovative process and comprehensive supply chains. We have capitalized on our engineering knowledge of construction equipment and further intellectualized that into a development philosophy for making economic plans and corporate measures.
On the Road to Real Economy
Global Trend of Our Own Making
Mr. Lu Chuan, President of XCMG and Deputy Secretary of China’s Communist Party Central Committee, delivered a rousing speech to the Real Economy and Innovation Forum held by China Enterprises Investment Association in Beijing on January 26. Great emphasis was laid on President Xi’s ‘three changes’ in systematized solutions of XCMG – from manufacturing to innovation, from speed to quality, and from products to brands.

On the Road to Real Economy
Upholding XCMG’s gold standard ‘Advanced and Endurable’, we will have our expansion into new global markets in the pipeline and transform into an international enterprise with a fuller scope of the global industry and expertise. With the rapid increase in our exports, countries along the Belt and Road and global high-end markets would be the major targets for our innovative products in creating a real economy. The establishment of more foreign manufacturing bases, KD plants, cross-border e-commerce trades and an IoT system of worldwide equipment is another priority that would display a distinctive global brand of XCMG, and thus realize our strategic goal of having a global sale of 50% in our share, which would consolidate the above foundations of a real economy.
On the Road to Real Economy
As the New York Times said last year, Chinese industries have been showing their elaborate intellectualization on supply chains and human resources. The nurture of XCMG’s new talents has the strongest influence on ‘Chinese quality’, which is also one of our advantages in various competitions. Mr. Lu introduced that over 22,300 XCMGers are divided into 3 production teams – Global Intellectuals, Inventive Entrepreneurs and Skilled Talents. They are trained, according to their areas of strength and interests, to be role models of the next generation.

On the Road to Real Economy
Our Example of Making a Real Economy
Our new G-generation cranes rolled into the market in early 2016 and completed several hoisting jobs for China Central Television’s variety show ‘Mission Impossible’ in late 2017. The reliability and controllability of XCA1200 all-terrain crane allowed it to perform a triple-hoisting job in which one 65-tonne cranes and one 12-tonne crane were lifted to a height of 20 meters and settled onto the platform, and amazed the national audience and customers to praise our high-tech heavy equipment and exquisite craftsmanship. In less than 2 years, these G-generation products have already gathered a huge customer base and taken on a massive proportion of XCMG’s sales of cranes, namely over 50%.

On the Road to Real Economy
In the upcoming 5 years, there will be no stand-alone pieces, and the success in our products will be integrated into our bigger purpose to be a prime leader of worldwide manufacturing. Our manufacturing system will represent a combination of national ideas and global hopes that make it very much of the modern age of advanced technology and cultures, and for sure, a real economy.