Looking back on this year, in the field of construction machinery, the non-parts industry has attracted much attention. For a long time, the core components of construction machinery are dependent on imports, and “controlled by others” has become an indisputable fact. In the face of this embarrassing situation, we have made painstaking efforts. The state has introduced a number of supportive policies and finally proposed that the development of key basic parts and components industry should become the top priority in improving China's construction machinery industry. This triggered an investment boom in the parts and components industry. In the zealous pursuit of “trend” behind us, we have to worry that in the chaotic market environment, even if we are confident and passionate, the ultimate goal will be greatly reduced.

The policy promotes the temptation to enter the parts and components market. Not long ago, the state issued the "12th Five-Year Plan" for construction machinery, which clearly puts key components as the focus of development, especially investment in research and development of engines, hydraulic components, and transmission systems. Support policy efforts. Not long ago, during the celebration of the 60th anniversary of the construction of the Yuchai Group, we witnessed the unveiling ceremony of the Yuchai Diesel Engine Experimental Center. This project is a state-of-the-art diesel engine and large-scale agricultural machinery product supporting diesel engine insurance center. In the field of hydraulic component manufacturing and transmission component R&D, a number of supporting policies will also be introduced. In addition, the Equipment Division of the Ministry of Industry and Information Technology also promoted the establishment of a "cooperative platform for the industrialization and application of high-pressure hydraulic components and systems for construction machinery". It is understood that various tasks are currently underway.

It can thus be seen that the country is now a real player. This combination of boxing fully illustrates the importance that the state attaches to key component industries. These are undoubtedly effective "strengthening agents" for the key parts and components industries of construction machinery.

Investment boom in Spare Parts industry Before this, Cai Weici, executive vice president of the China Federation of Machinery Industry, speculated that the machinery industry is still expected to continue its double-digit growth in 2012, and the growth rate of production and sales will also reach around 20%. Such growth will inevitably drive sales in the parts and components market, coupled with the country’s guidance on a series of policies and the large investment in research and development funds, setting off an investment boom in parts and components for the construction machinery industry.

In particular, domestic industry giants such as Xugong, Sany, and Red Star machines have all targeted the spare parts investment market. XCMG, who is the vanguard of the industry, put forward the slogan of ''12th Five-Year'' strategic development plan focusing on 'world-class''. To reverse the embarrassing situation in which the development of key components has lagged behind the rise in the level of the domestic construction machinery industry, XCMG established the first postdoctoral mobile station in the domestic industry, which uses 5% of its sales revenue each year for research and development.

In this upsurge, many small and medium-sized enterprises as parts and components are not to be outdone, and they are also in full swing with product improvement and embarking on homework technical problems. The results are gratifying.