Foton Lovol: Miraculous development over 10 years

Wang Jinfu, chairman of farming machinery company Foton Lovol based in Weifang, Shandong province, said his ambition is to build the company into a heavyweight in the global industry.

If he had said that 10 years ago when the company was founded people would have likely laughed - it had only a small factory with about 100 employees and 20 million yuan in fixed assets.

Yet it was no joke. In 10 years its total assets increased to 10 billion yuan, sales revenue registered 500-fold growth and its products are now exported to more than 100 countries and regions.