Chairman of XCMG Wang Min: leading the company toward excellence- Note of deputy of the 19th CPC National Congress
2017-10-18 17:03:00

From a lathe worker to the chairman of Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Wang Min has worked in the machinery industry for 45 years. Under his leadership, XCMG has grown from an old SOE on the verge of bankruptcy to be a leader of equipment manufacturing industry worth over hundreds of billions and with the main indicators ranking first in the industry for 28 consecutive years. In 2017, XCMG ranked 7th in the list of top 50 global engineering machinery manufacturers, the only Chinese manufacturer among the top 10. Wang Min, a 42-year Party member and deputy to the 19th CPC National Congress, is leading XCMG to climb the industrial peak toward its strategic goal of "making it to the top three in global engineering machinery industry".

In 1999, XCMG was in serious trouble, and the 45-year-old Wang Min was appointed to head up the company. He carried out bold reforms and helped XCMG to adopt a completely new look. In 2013, the fast-growing XCMG sounded the clarion of "reaching the industrial Everest", and Wang Min pointed out that to achieve that goal, the company had to further improve the management capability, make breakthroughs in key technologies, and give full play to talents.

From January to September 2017, XCMG registered the operating revenues of RMB76.8 billion, up about 40%; its main engine export increased by 84.8% and self-operated export increased by 101.7%; its profits+taxes and profits increased by 2.4 times and 3.1 times respectively; and main indicators ranked top in Chinese engineering machinery industry.

Wang Min believes that China should go global in order to become a strong manufacturing power. As an industrial leader, XCMG is one of the first enterprises that implement the internationalization strategy in China. In response to the Belt and Road Initiative and the "Go Global" strategy, XCMG has established a sales network covering 178 countries and regions, and has 123 level-1 agents, 260 service outlets and more than 200 spare part outlets overseas, providing all-round services for global users in a timely manner. It also has the largest market share in this industry in Africa, the Middle East and Central Asia.


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