Manufacturers lead upgrade and transformation agenda
Fully automated robots weld the bodies of automobiles in a workshop in the Foton Shandong Multifunction Plant in the Weifang Hi-tech Industrial Development Zone.
Photos Provided To China Daily
Manufacturers in the Weifang Hi-tech Industrial Development Zone are pushing forward its industrial upgrade and transformation plan in response to the central government's efforts to replace old growth drivers with new ones.
Weichai's approach
Weichai Group, one of the largest vehicle parts and engine developers in China, has been committed to promoting innovation, supporting industrial integration and gathering global resources to build up its core competitiveness.
The company invested heavily in developing engine reliability and core technologies to serve clients' evolving demands over the past few years.
Figures provided by Weichai show that more than 5 percent of its annual sales revenue has been invested in research and development. Total investment in core technologies and reliability enhancement has reached 15 billion yuan ($2.21 billion) over the past 10 years.
The number of engineers in the company's R&D department has increased to more than 3,000, from just 60 people.
Weichai Group, founded in 1946, has registered 2,633 patents, including 469 invention patents, over the past seven decades.
The company's engine sales volume reached 300,000 units in the first half of 2017, an increase of 50 percent year-on-year.
"Weichai has reported rapid growth over the past decade. Our annual sales revenue exceeds 100 billion yuan. We diversified our product portfolio and made breakthroughs in our internationalization progress," said Tan Xuguang, chairman of Weichai. "Weichai's every success was supported by technological innovation."
In the era of smart manufacturing, Weichai also vowed to accelerate its infrastructure and management system upgrade to maintain long-term growth. It has joined the first group of smart manufacturing demonstration businesses in China.