XCMG tops rankings in new Chinese list

XCMG has been ranked as the number one construction equipment manufacturer in a new Chinese chart.

The 2017 China Top 500 Enterprises rankings assesses firms by criteria including their scale of operation, profits, operating revenue and tax affairs.

As the top listed construction equipment manufacturer, XCMG also claimed 196^th place overall on the enterprise list.

The firm currently boasts operating revenue of 77.11 billion yuan (US$11.81 billion), a 77.44% year-on-year increase.

The company has also seen a 333.27% increase in net profit in the first six months of 2017.

XCMG’s chairman, Wang Min, said, “Our successful industrial transformation and upgrading, as well as our expanding operations in Belt and Road Initiative projects and BRICS countries, has allowed XCMG to maintain healthy, rapid and sound growth.”