While consolidating its position in the domestic market, Beijing CRRC Heavy Industry is accelerating its internationalization and actively planning an ambitious overseas blueprint. In 2017, the global economy showed a sound recovery, and demand in overseas construction machinery markets gradually recovered, creating a favorable operating environment for the overseas division. No pain, no gain. In 2017, the overseas division steadily advanced all key tasks and achieved encouraging results.
It is understood that in 2018 China's machinery industry will continue the steady growth trend of the previous year, with the growth rate of major economic indicators remaining at or slightly below the previous year's level. It is estimated that in 2018 the growth rates of China's machinery industry added value, main business revenue and total profit will all be around 7%, and foreign trade exports will maintain moderate growth at a rate lower than the previous year. In this context, the overseas division will respond in depth to the national "Belt and Road" initiative, accumulate experience in the operation and management of "going global" projects through "Belt and Road" projects, understand the needs of major customers, and attempt innovations in customer and project solutions.
Although the world economy is expected to continue recovering in 2018, uncertainties will always remain, and the double squeeze on China's foreign trade export market from the "reindustrialization" of developed countries and the accelerated industrialization of developing countries will persist. Under these circumstances, Beijing CRRC Heavy Industry will face a more complex and volatile situation in both foreign trade and cooperation. The company will increase investment in product upgrading and innovation, pay greater attention to improving export quality and added value, seize the opportunity of "Belt and Road" construction, and innovate ways of foreign cooperation; in line with the requirements for implementing "Made in China 2025" and the deployment requirements for adjusting structure, promoting transformation and increasing efficiency in the machinery industry, it will advance industry transformation and upgrading and lay the foundation for becoming strong from being large.
These achievements are an epitome of the CRRC people's spirit of "responsibility and commitment." Behind these substantial results are the hardship and efforts of all personnel in the overseas division. Countless days and nights of overtime, countless meticulous checks, and countless repeated tests and revisions finally brought about these hard-won results.
Success is never a matter of luck or chance; it requires deep thinking and long-term planning, unremitting effort and perseverance, persistence when circumstances are unfavorable, calmness amid customers' roars, and firm belief when hope seems invisible—believing that light lies ahead. In 2018, a new journey begins again. The overseas division takes this as a starting point, working together and keeping its feet on the ground to reach new heights!