In the past 40 years of reform and opening up, China's equipment manufacturing industry has moved from the low-end to the middle and high-end, and from the domestic market to the global market. Wang Min, chairman of Xuzhou Construction Machinery Group or Xugong Group, has been committed to reform and created a new benchmark for China’s manufacturing industry by persisting in innovation and aiming to be the world first.
Xugong Group was founded in 1943 and reshuffled into a group company in 1989. As the founder and pioneer of China's construction machinery industry, Xugong has also struggled in the process of development.
In 1999, Xugong was in distress when Wang Min took over the helm. He withstood the pressure to carry out reforms in an aggressive way by insisting on independent innovation to shape its own brands, and with great courage and responsibility, he chose to take the development path of high-end, high added value, high reliability and large tonnage.
Relying on innovation, Xugong Group has ranked first in China's construction machinery industry and sixth in the world for 29 years in a row, and its products are exported to 182 countries and regions. In 2017, Xugong posted nearly 100 billion yuan of operating revenue, which was nearly 300 times that of the group's 350 million yuan of operating revenue when it was founded.
(source:ourjiangsu.com)
