XCMG Ranks the Industry Fifth Place in 2014 and Continues Spearheading Domestic Counterparts

August 22, 2014

Recently, the ranking chart of 2014 World Top 50 Construction Machinery Manufacturers, which was sponsored and elected by the China Construction Machinery journal, was officially released. In the updated lineup of the World Top 50 Construction Machinery Manufacturers, XCMG still ranked the fifth place, unchanged from last year, making it continue spearheading its domestic counterparts.

In the lineup of the World Top 50 Construction Machinery Manufacturers there are 11 Chinese enterprises, equivalent to number of Japanese enterprises. Amongst the Top 15 construction machinery enterprises there are three Chinese enterprises, namely, XCMG (the 5th place), Zoomlion (the 9th place), and SANY (the 10th place).

Construction machinery industry is closely associated with the economy, and regarded as one of the important weathervanes for the world macro economy. Affected by the economic fluctuation of the world, the construction machinery industry in the world and China witnessed changes and adjustments. Against this backdrop, XCMG seized opportunities to transform its mechanism, temper the management, and strengthen the competitiveness. In the first half of this year, XCMG, in face of the industry’s continuous depression, speeded up its reform and transformation. By following its management guideline “Three More Attentions”, XCMG moved ahead against all odds and made breakthroughs in different aspects. Despite hardships, XCMG made significant progress and continued consolidating its competitiveness and keeping the first place in the industry.

As a representative sector with the most intensive internationalization and the strongest independent innovation ability in China’s equipment manufacturing field, XCMG Group led China construction machinery industry to make a series of significant breakthroughs in terms of product, technology, innovation, and manufacturing. As a result, XCMG shattered the industry’s long-term monopoly by European, American, and Japanese enterprises, further consolidated its leading place in the industry, and highlighted its status in China core industries. At the meantime, XCMG’s market reputation and influence in the global market were elevated remarkably.