XCMG, the largest construction machinery manufacturer in mainland China, aims to achieve annual overseas sales of 100 billion yuan (US$14.7 billion), attracting more international customers by converting its excavators, loaders and specialized vehicles to be greener and more automated.
Yang Dongsheng, president of the state-owned machinery giant, told reporters at a press conference last week that the goal will be achieved in line with the company’s ambition to build itself into a first-class machinery producer worldwide.
“Today, XCMG is no longer just a Chinese industrial brand,” he said. “As an emerging global player, it is an important growth driver and value creator in the global construction machinery industry. No matter what business unit customers enter, they will see the latest high-tech, tailored solutions.”
The Chairman of the Board of Directors did not clarify when the company expects to reach its foreign sales target.
Yang said XCMG recorded revenues of 102 billion yuan in 2024 and is now the world’s third-largest construction machinery manufacturer, after US Caterpillar and Japan’s Komatsu.
The company said 48 percent of its sales last year came from more than 100 markets outside mainland China.
