Xiang Wenbo: China's Construction Machinery Industry Is Globally Competitive

 

According to Xiang Wenbo, the wealth of Sany comes from the opportunities brought by the Reform and Opening-Up of China and the joint efforts of its staff and shareholders. There has been no acquisition or restructuring during the whole development process. Sany Group is built up step by step independently through innovation.  and tThe wealth of Sany is honorable. 

 

Xiang Wenbo believes that Sany’s accumulation of wealth is sustainable. Sany Heavy Industry is a listed company with its focus on equipment manufacturing, especially construction machinery manufacturing. Given the economic situation of China, opportunities for rapid development of the industry will exist for at least ten to twenty years.

 

The opportunities mainly come from three aspects. First, China is still going through urbanization and industrialization, which requires a large amount of infrastructure constructions. There are less than 50% of urbanized areas in China, which is lower than the average rate around the globe. Therefore we need a great many infrastructure and real estate constructions. In recent years under the reform and opening-up policy, the cities in China have been built to be beautiful, however, the supporting facilities and infrastructure systems are still backward and there’s still vast potential for underground facilities construction and airport construction. 

 

Second, “China’s economy is still developing rapidly and it is yet to complete the industrialization and urbanization process,” said Mr. Xiang Wenbo, “Machines have been widely used in farming and snowplowing in America, while in China machines have just started to replace manpower.”

 

The third reason is globalization. The infrastructure in China is far from being complete; however, China is still more advanced than many other developing countries. Some countries have not yet established their independent engineering machinery industry, which provides Sany with a broad international market. 

 

“I believe that engineering construction industry of China is globally competitive. We have the confidence to seize the opportunity of the time and create larger wealth.” said Mr. Xiang Wenbo.