XCMG eyes even greater global role

Xuzhou Construction Machinery Group is aiming to raise its global ranking in the construction machinery manufacturing sector from the current sixth to fifth in 2020, and become one of top three by 2025, said its chairman.

Consistent reform and innovation have made XCMG grow from a company with an annual revenue of around 300 million yuan ($43.2 million) into the nation's leading machinery giant earning 100 billion yuan a year, said Wang Min, chairman of the group.

During the four-day Bauma China International Trade Fair, which is being held in Shanghai until Friday, XCMG is presenting 79 new machines and 41 sets of core parts and components.