A pioneer in promoting the local economy, Taiyuan Heavy Machinery Group in Shanxi province has made remarkable efforts in advancing economic transformation, improving the level of management and boosting high-quality development in the new era.
The company, as a large-scale State-level enterprise, has taken the principle and concept of the Party theories and practices as its guidelines for development.
It focuses on strengthening innovation, internationalization, deepening the reform and sharing concept. To further intensify the corporate culture, the company is continuing to promote its core value in activities such as "The Building of the Soul" and a large cultural project to celebrate the 40th anniversary of China's reform and opening-up policy.
Several years ago, Taiyuan Heavy Machinery Group initiated an undertaking to introduce a batch of demonstration projects and optimize its industrial layout and economic transformation.
The company launched numerous projects to upgrade the infrastructure covering rail transit, coastal bases and the construction of production bases for the heavy machinery industry.
It has constructed the only sea port in Shanxi with the overall throughout surpassing two million tonnages under China's Belt and Road Initiative.
The company has completed the relocation and upgrading of the production lines for the axle precision forging machine, gearbox and chemical equipment. It launched a project to optimize the production base for large-scale castings and forgings and relocated the special castings, providing key techniques and high-end facilities for the production of steel wheels and ingots as well as the fan shafts.
The company's annual production capacity for wheels and steel ingots has reached 80,000 tons, with the number of fan shafts achieving 1,000.
To further boost intelligent and high-tech industries, the company has invested 2.1 billion yuan ($310 million) to build a series of innovative projects.
One example is the smart industrial park and intelligent production line for wind power, which is capable of producing 500 fan sets and key components and will be a demonstration project in the sector across the nation.
It has also built a world-class center for the research and development of heavy machinery industries focusing on digitalization, intelligent products and resource-sharing as well as an integrated platform on products design, techniques and cloud computing services.
As a leading enterprise for China's equipment manufacturing, the company is eyeing both domestic and international market to optimize the resources.
To date, the company has established branches and offices in China's Hong Kong, India, Indonesia, Turkey, Russia, South Africa and Kazakhstan.
The company's leading products including rail transit products, mining equipment, forging and pressing facilities are sold to more than 50 countries and regions across the world.
To upgrade its management mechanism and ensure the stable increase of export on the world stage, the company will develop sales outlets, localize products and improve its brand image.
The overseas business revenue for core products is expected to account for 50 percent of the total by the end of the 13th Five-Year Plan (2016-20) period, according to the company.