XCMG’s predecessor was established in 1943 and was restructured in July 1989. XCMG has always been the leader of China’s construction machinery industry. At present, XCMG ranks in the Top 5 in the global construction machinery industry, 122nd of Top 500 enterprise in China, and 49th of Top 500 manufacturing industry in China．XCMG is a large-scale enterprise group in China’s construction machinery industry, with the largest scale and most diverse series of products. The annual operating income of XCMG has increased to ￥87billion in 2011 from 386 million Yuan since its foundation, ranking Top 1 in China’s construction machinery industry. XCMG Core Values are “Taking Great Responsibilities, Acting with Great Morals and Making Great Achievements”. Its enterprise spirit is “Strictness, Sureness, Ambitiousness and Creativity”. The vision of XCMG is to become a world-class construction machinery conglomerate. The XCMG strategic objective is to realize an operating income of $16 billion in 2012, and over $48 billion yuan in 2015, while being ranked in Top-500 enterprises in the world and edging in top-3 enterprises in the global construction machinery industry.