XCMG NEWS

Chairman Wang Min Attended the 11th U.S.-China CEO and Former Senior Officials’ Dialogue

The China Center for International Economic Exchanges (referred to as CCIEE hereafter) and the U.S. Chamber of Commerce (referred to as USCC hereafter) co-hosted the 11th U.S.-China CEO and Former Senior Officials’ Dialogue on December 4, 2018 (local time) in Washington, DC. Zeng Peiyan - president of CCIEE and Thomas Donohue - president of USCC, as well as more than 30 representatives of business leaders, former senior government officials, experts, and scholars from China and the U.S. attended in the dialogue. Wang Min, Chairman and secretary of CPC of XCMG, was invited to attend this meeting.



This is the first dialogue attended by Chinese delegation of business leaders, former senior officials, and think tank scholars that visited the U.S. after the meeting between U.S. President Donald Trump and Chinese President Xi Jinping. Participates agreed that the decision of pausing the escalating cycle of the tit-for-tat tariffs and other trade restrictions made by the two leaders at the G20 summit in Argentina pointed out a direction for China-U.S. relations in the coming period. Healthy and stable China-U.S. economic and trade relations are in favor of fundamental interests of both countries and the world. It is a common expectation of the two peoples to promote the healthy development of bilateral relations as soon as possible. Cooperation is always the only right choice for China and the U.S. Both countries should take a long-term view and continue to strengthen communication to weaken differences.

As a representative of Chinese enterprises in this dialogue, Wang Min, Chairman and secretary of CPC of XCMG, expressed that in recent years, by the spring wind of "the Belt and Road" initiative, Chinese construction machinery, like XCMG, has gone global and walked a unique international development road. At present, XCMG products have been exported to 182 countries and regions. In the international development process, XCMG wishes to deepen cooperation and exchanges with the U.S. manufacturing industry, look for cooperation areas with common interests, further promote market opening, and promote growth of both Chinese and American enterprises. Chairman Wang Min's humorous and constructive speech was well received by the participants.


Wang Min, Chairman and secretary of CPC of XCMG, made a speech in the meeting


Wang Min, Chairman and secretary of CPC of XCMG, talked with Gutiérrez, former secretary of U.S. Ministry of Commerce.


It is reported that the two sides held frank dialogues and exchanges around China-U.S. relations, especially economic and trade relations, and tariffs and major problems, and put forward constructive policy recommendations.

After the meeting, the two sides issued a joint statement on the consensus reached in the dialogue. With a mission of intensifying the bilateral consensus, strengthening strategic mutual trust, and developing healthy, stable, and sustainable China-U.S. relations, the U.S.-China CEO and Former Senior Officials’ Dialogue aims to build a platform for communication and exchange between Chinese and American CEOs, former senior officials, and think tank scholars. It is an important second-track communication mechanism.


Wang Min, Chairman and secretary of CPC of XCMG, exchanged views with participants.

Jared Kushner, President Donald Trump’s son-in-law and special adviser of the White House, attended this meeting.


XCMG in the U.S.

In the early 1980s, XCMG products first came into contact with American customers, but did not achieve orders. Instead, XCMG products were introduced to American customers and help them to know about Chinese enterprises. With gradual exploratory exchanges and visits, XCMG started to enter the U.S. market.

In 1996, with nearly ten years of market exploitation, XCMG established a joint venture company with a local company. This is the first time that XCMG really realized mass sales and established cooperation. Since then, XCMG became the earliest manufacturer among Chinese construction machinery enterprises that contacted the U.S. market and achieved sales, and became famous in the U.S.



In 2012, XCMG officially launched the U.S. project and invested manpower, material resources, and financial resources in the development and marketing of local adaptive products. XCMG established R&D center in the U.S. and set up R&D teams for long-time technology R&D and market research. The North American loader, fully developed by American engineers, is a high-end North American product and will be sold to the U.S., Canada, and even European countries in the future. The newly developed North American excavator, as a main product in the current market, has been successfully sold to high-end markets such as Australia and Europe.


XCMG R&D center in the U.S.


The project that XCMG cooperated with NEFF, the sixth largest leaseholder in the U.S., was the largest cooperation project at that time and an attempt of XCMG to carry out large-scale leasing cooperation in the U.S. In March 2016, XCMG signed a long-term cooperative joint leasing order agreement with Ahern, the fourth largest leasing company in the U.S. with 80 leasing outlets. XCMG will supply its earthmoving equipment to Ahern for leasing, which marks that XCMG successfully entered the American construction machinery leasing market.

Since the 1990s, as a leading enterprise in Chinese construction machinery industry, XCMG has participated in the Las Vegas International Construction Machinery Exposition for eight consecutive times, making the world hear the voice from Chinese manufacturing industry and North American customers feel the charm of XCMG high-quality products with "Advanced Technology and Long Duration".