XCMG Publishes 2021 Hoisting Industry Chain Sustainable Development Report

XUZHOU, China, June 17, 2021 /PRNewswire/ -- Leading Chinese construction machinery manufacturer XCMG (SHE:000425) has formulated and published the industry's first "Hoisting Supply Chain Safety Development Report and Initiative" (the "Report"), a blockbuster release since XCMG's publication of the "4.0 Sustainability Principles for Hoisting Industry Chain" in 2016.

The Report details the hoisting industry's achievements in terms of scale, quality and safety development, while pointing out the bottleneck issues that are affecting the industry's sustainable development. It has raised the development goal of "reaching the top echelon of the global hoisting industry and becoming a world-class hoisting corporation with global trust and unique value." The Report also highlighted "operational safety, equipment safety, use safety and social safety" initiatives.

"A normalized evaluation and review of the development status of the hoisting industry chain will help us better identify our development direction and assume industry responsibilities. For this reason, we've formulated this report to maintain the healthy and sustainable development of the hoisting industry and shoulder social responsibilities," said Wang Min, chairman and CEO of XCMG.

The key findings of the Report center on risk awareness in both equipment design/maintenance/usage and company operation and highlight the need to:

• Pay more attention to safety features in product design, introduce active safety technologies including high-precision moment limiter, boom anti-collision, luffing compensation and more;
• Follow strict maintenance schedules and standards to ensure smooth operations;
• Increase awareness of safety training to reduce major safety incidents;
• For companies, it's crucial to pursue a virtuous cycle of capital flow and balance of payments.

The Report also set the goal of entering the top echelon of the global hoisting industry by providing comprehensive and professional services, building impeccable organizational structure, establishing unified and integrated management standards and corporate culture, and emphasizing equipment maintenance and technological innovation.

The hoisting industry should also embrace those major opportunities that will promote the industry's sustainable development, as stricter supervision and standardized management will accelerate its development, and a new generation of talent is growing into the backbone of the industry. China's strong economic development and infrastructure investment will also bring development potential.

For more information, please visit XCMG.