Foreign equipment firms to step up localization drive

Foreign heavy machinery makers are banking on increased localization to counter growing competition from domestic companies, sluggish demand, and to further expand their presence in China, industry sources said.

South Korea-based Doosan Infracore, one of the world's top construction machinery manufacturers, said it is charting steps to further localize its operations in China, especially in research and development.

"There are different kinds of localization for a company, such as localized production and localized innovation," said Ouk-Jin Jeong, vice-president of the aftermarket division at Doosan Infracore China.