VIDEO: Chinese equipment is coming of age

President of Liugong Machinery Zeng Guang'an is confident that Chinese construction equipment manufacturers are ready for the next phase growth in the country, concentrating on improving quality and reliability.

Mr Zeng addressed delegates on 22 November, during the second day of the International Construction Economic Forum (ICEF), and talked about the coming of age of China’s construction equipment industry.

"A lot of new reform and changes in politics, the economy and society are coming," he said. "GDP growth of between +7% and +8% is forecast for the next decade, and the whole country will focus on high quality and improving efficiency in construction equipment.

"Production of Chinese construction equipment will slow down to more reasonable growth. We have to go from high-speed growth to low-speed growth and the industry's values are also changing.”

Mr Zeng also spoke about the prospects for consolidation in the industry, and sought to expel some stereotypes about Chinese-made machines.

More videos of speaker presentations are also available at the KHL.com Video Zone, including footage of the ICEF keynote address from former Spanish Prime Minister José María Aznar.

ICEF 2014 will be held from October 29 to 31 at the Gloucester Hotel in London, UK. More details will be available shortly at www.icef.biz