Chen Qihua, Vice President of Caterpillar Global: Sustainable Development of Construction Machinery Industry
On April 23-26, 2019, the 4th member representative conference of the 5th China Construction Machinery Industry Association and the 17th Engineering Machinery Development High-level Forum was held in Changxing, Zhejiang. Chen Qihua, Vice President of Caterpillar Global and Chairman of Caterpillar (China) Investment Co., Ltd., delivered a speech entitled “Sustainable Development of Construction Machinery Industry” around the theme of “New Changes, New Challenges, and New Developments”.
Chairman Chen Qihua first analyzed several major trends in the current industry development: First, China has become one of the world’s largest construction machinery markets; Second, local production of key components; Third, new technology revolution; Fourth, leasing and leasing services Fifth, five new trends, such as the accelerated globalization process.
At the same time, he also pointed out the four major challenges faced by China’s construction machinery industry: First, the environmental protection requirements continue to increase the pressure on the development of engineering machinery, and second, the user’s pursuit of value and industrialization demand has forced companies to provide customized business, and the third is The rise in labor costs is urgently required to enter the quality and efficiency (the difference between Chinese and Japanese product costs is only 10%). Fourth, sustainable development requires the industry to develop and compete in a healthy manner with strict risk control.
In the face of industry trends and challenges, Caterpillar also has four corporate strategies: 90 years of sustainable development; value-based corporate culture; three key areas of focus; collaboration with distributors and suppliers.
He also revealed that the three directions for Caterpillar’s development in the future are: first, efficiency and quality; second, continuous expansion of product lines; third, high-quality services. To achieve zero defects, zero damage, lean production, digital manufacturing, and supply excellence.
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