China's construction machinery industry responds quickly to the economy

In 2013, the economic growth of China's construction machinery industry slowed down, and European and American countries slowly recovered; the collapse of the construction and construction industry's property market was once again rampant. The issue of overcapacity is prominent. The Chinese economy in 2014 was doomed to be unsteady. The construction machinery industry responded rapidly to the economic fundamentals. The Chinese construction machinery industry experienced a slow recovery in 2013. How will it develop in 2014 will become the focus of attention of many people.

At the just-concluded two sessions, many deputies from the National People's Congress gave advice and suggestions to promote the development of the country’s economy. Representatives of the destructive people’s congress from the engineering machinery industry also spoke and elaborated on the development of the construction machinery industry and even the manufacturing industry in China. Zhan Chunxin, chairman of Zoomlion, proposed to promote the transformation and upgrading of the equipment manufacturing industry. Wang Jinfu, general manager of Chery Heavy Industries, stated that equipment manufacturing is an important pillar of the national economy. Yu Ping, chairman of Guangxi Yuchai Machinery Group, explained how Yuchai is transformed. Upgraded, sustainable, etc. If we carefully read the speeches made by the deputies to the National People's Congress of the construction machinery industry, it is not difficult for us to find that “transition and upgrading” has become an inevitable trend in the construction machinery industry and has become the focus of industry development.

The transformation and upgrading of the construction machinery industry is the trend of the times. The high-speed development period of the engineering machinery industry in previous years has exposed many problems. For a long time, the domestic construction machinery enterprises' R&D platform construction capacity and resource input were seriously insufficient, mainly relying on imitating and using theism, resulting in the entry of low-quality and inefficient products into the market, resulting in the situation of equipment capacity and low-end production capacity overcapacity. Correspondingly, multinational corporations are making huge profits in high-end products and small-capacity markets. “Under the backdrop of overcapacity in the construction machinery industry, transformation and upgrading have become the trend of the industry,” said Zhan Chunxin, chairman of Zoomlion.

After decades of development, China's construction machinery machinery manufacturers have achieved remarkable achievements in the industry equipment manufacturing industry. Chinese companies represented by Zoomlion, Sanyi, Xugong, Weichai, etc. have set off an upsurge of overseas M&A and lead China's equipment manufacturing industry. Technology market brand upgrade. However, on the whole, China's equipment manufacturing industry is large but not strong. Along with this, the focus of the middle and low-end product processing and manufacturing industries has accelerated to transfer to developing countries such as Southeast Asia. The "reindustrialization" strategy of Western developed countries has caused a wave of high-end manufacturing companies to "backflow", and China's equipment manufacturing industry is facing challenges in its global status. Therefore, Wang Jinfu, general manager of Chery Heavy Industry, said: "The Chinese equipment manufacturing industry must look globally, make full use of domestic and foreign resources, two markets, and persist in innovation-driven, rapid transformation and upgrading."