Wang Min, Chairman of XCMG Machinery: The “Lifeline” of Innovative Enterprise Development

Date : 2021-07-20

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On July 10, 2021, Wang Min, Chairman and Party Secretary of XCMG Construction Machinery Co., Ltd. and XCMG Construction Machinery Co., Ltd., pointed out in an interview with China Fortune Network during the second “Urban Innovation Ecological Forum (Suzhou)”, “For enterprises, without innovation, they will ‘die’. Nowadays, many enterprises live on the line of life and death. My understanding is that without innovation, they will die, and with innovation, they can live better. XCMG is constantly innovating and reforming, in order to achieve today’s (achievements) and have a better future.”

 

Wang Min believes that the equipment manufacturing industry is the backbone of the manufacturing industry. Any powerful country needs to have an equipment manufacturing industry with strong innovation capabilities. China is a manufacturing powerhouse, and in achieving the strategy of becoming a manufacturing powerhouse, we must firmly grasp the “lifeline” of innovation. He also pointed out that “innovation is very difficult. Because our country’s equipment development was almost ‘impoverished and impoverished’ when it was first established, and later gradually established an independent and relatively complete industrial manufacturing system. Although we have become a manufacturing country now, we need to innovate from the path of ‘big’ to ‘strong’.”

 

Wang Min introduced that XCMG began researching and developing construction machinery in the late 1950s, while XCMG Group was established in early 1989 with an annual sales revenue of only about 300 million yuan. After years of development, in 2020, XCMG has become a leading enterprise in the construction machinery industry with a revenue of nearly 100 billion yuan and ranking third globally. He said, “My understanding of XCMG is that it has mainly taken a path of innovation and reform. At the same time, we are constantly adhering to our industry and main business.”

 

Wang Min said that innovation is a “difficult” process, and generation after generation, people are determined to innovate without any distractions. XCMG has led Chinese engineering enterprises to become an important force in the world machinery industry through unremitting efforts in innovation. In the future, XCMG hopes to accelerate the transformation of enterprises, products, and enhance technological capabilities through the use of digital, intelligent, industrial internet, big data, and 5G technologies. It aims to address the problems that have already been solved or achieved by established multinational companies in developed countries in the 2.0 era, such as product openness, mastery of key components, and core technologies, in order to achieve overtaking on curves.

 

(Source: China Fortune Network)

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