Where will China's construction machinery industry develop in the future?

In recent years, facing market adjustments, Chinese construction machinery enterprises have been working hard to improve their internal strength, transform and upgrade, innovate and develop, and have achieved fruitful results in various technologies and products, providing equipment support for national construction. At present, relevant enterprises in the industry are deeply studying and implementing the spirit of the 18th National Congress of the Communist Party of China and the Third Plenary Session of the 18th Central Committee, taking the revitalization of national industry as their own responsibility, summarizing experience, forging ahead, constantly accelerating technological innovation, product innovation, management innovation, system innovation, channel innovation, talent cultivation and internationalization pace, and contributing to the continuous improvement and strengthening of China's construction machinery. Below are some insights on the future development trends of construction machinery in China.

（1） To understand the future development trend of construction machinery in China from the perspective of realizing the "Chinese Dream" of the great rejuvenation of the Chinese nation.

The 18th National Congress of the Communist Party of China has outlined a grand blueprint for our country's prosperity, national rejuvenation, and people's happiness, realizing the great rejuvenation of the Chinese nation and the "Chinese Dream". To achieve the Chinese Dream, we must adhere to Chinese principles, promote Chinese spirit, and unite Chinese strength. The strength of a country not only requires a brilliant culture, but also advanced technology and strong manufacturing capabilities. Therefore, a group of high-quality and powerful manufacturing enterprises are needed to support it. As for construction machinery, it is the historical mission and sacred responsibility of all enterprises to continuously develop and manufacture independent brand products that fully meet the needs of national economy and defense construction, have independent intellectual property rights, and are internationally leading. At the same time, as a component enterprise and related suppliers, agents, and various sectors of society including our industry association that provide supporting services for the host, we also have a great responsibility and a glorious mission. We are pleased to see that the industry's backbone enterprises have implemented an innovation strategy of "global benchmarking, focusing on high-end, and striving for excellence", aiming to comprehensively surpass world leading enterprises in product technology, quality, overseas market share, and economic benefits. I believe that with the rise and drive of such a group of enterprises, China's construction machinery industry will undoubtedly contribute to the realization of the "Chinese Dream" of the great rejuvenation of the Chinese nation.

（2） We need to closely align with the development priorities of the country in the new era to plan the development trend of China's construction machinery.

In the past two years, due to market downturn and rising costs, our industry has entered a period of adjustment. But personally, I believe that difficulties and problems are temporary and do not affect the long-term sustainable development of the industry. At present, guided by the national policies of stabilizing growth, adjusting structure, promoting reform, and benefiting people's livelihoods, and driven by the market and the hard work of various enterprises, the overall operation of the industry has shown a trend of stabilizing at the bottom.

In the future, the country will focus on cultivating and developing strategic emerging industries, implementing energy conservation and emission reduction, accelerating the construction of new urbanization, accelerating the construction of infrastructure such as highways, high-speed railways, urban rail transit, and subways, developing resources such as oceans and new oil and gas, and accelerating the modernization of water conservancy and agriculture as development priorities and support directions. Various related fields will undoubtedly provide broader market space and higher technical quality requirements for construction machinery, which is also the innovation goal and industry direction of our construction machinery enterprises and bearing enterprises. To this end, green construction equipment that meets the needs of new urbanization construction, including road machinery, concrete machinery, lifting machinery, earthwork machinery, and environmental sanitation equipment, as well as specialized construction equipment for high-speed railways, bridges, and tunnels, large-scale mining equipment, water conservancy construction equipment, high-end oil and gas drilling and production equipment, high-end offshore equipment, and new agricultural engineering machinery and their supporting bearings, will become the focus of development and will also receive relevant support.

（3） To develop Chinese construction machinery products with international market competitive advantages, we must stand at the height of China's rise as a major power and global services.

In recent years, Chinese construction machinery enterprises have implemented the "going global" strategy and achieved remarkable results that have attracted worldwide attention. Especially for some backbone enterprises, in the face of fluctuating international situations and severe challenges in the international market, their internationalization process has achieved one gratifying performance after another and received praise from foreign users. I agree with the strategic initiative proposed by entrepreneurs in our industry to drive internationalization deeply through innovation engines, brand engines, and information engines. I also strongly agree with the consensus of industry entrepreneurs that internationalization is not just about selling products from China to overseas, sending people overseas, or building factories overseas, but about integrating into the global industrial ecosystem and becoming a world-class enterprise supported by different ethnic groups, countries, and cultural regions. So, when the strategy, management, technology, and culture of Chinese construction machinery enterprises are all based on the global dimension, "going global" will no longer mean starting solely from China - the world is both our destination and our starting point.

With the rise of China as a major power and the further deepening of independent and peaceful diplomacy, there will be more and more cooperation between China and friendly countries in the field of economic construction. The opportunities for China's construction machinery to "go global" and achieve international services will greatly increase. We hope that all relevant enterprises will seize this historical opportunity. I also hope that Chinese bearing enterprises, suppliers, and agents with strength and management capabilities can go global to jointly expand the international market and achieve the global development of OEMs, suppliers, and agents.

（4） We will steadfastly follow the path of "innovation driven, quality priority, structural optimization, and green development", promote the continuous improvement of quality and level of China's construction machinery products, and comprehensively enhance profitability.

In short, the Third Plenary Session of the 18th Central Committee of the Communist Party of China put forward the scientific conclusion that the market plays a decisive role in resource allocation and better plays the role of the government. It pointed out the direction for deepening China's economic system reform, raised higher expectations and requirements for our construction machinery enterprises, and provided a broader market space for the majority of bearing industry enterprises. Under the guidance of the spirit of the Party Central Committee, we should seize opportunities, unite and cooperate, work hard, climb new heights, and make new and greater contributions to realizing China's dream of building a strong construction machinery country and the construction of a socialist market economy.