XCMG European Research Center Featured in Innovation China's Global Top 100 Best Practices for Technology Transfer List

XUZHOU, China, Oct. 4, 2021 /PRNewswire/ -- The XCMG European Research Center of XCMG (000425.SZ) stood out from 250 representative technology transfer projects to be featured in Innovation China's Global Top 100 Best Practices for Technology Transfer (the "List') released on September 6, 2021 in Beijing, China. The center earned its place in the Best Practice of Cross-border Innovation Technology Industrialization Platform category.

More than 40 senior experts in the field of technology transfer and international cooperation reviewed the list. Practices were featured across five categories, including "Best Practice of Cross-border Innovation Technology Industrialization Platform", "Best Practice of Exchange Activity", "Best Practice of Sino-foreign Industrial Innovation Technology Cooperation" and "Best Practice of Industry-University Cooperation and Regional Science and Technology Economic Integration". The operation models, practical experience and characteristics of the selected practices will be promoted to expand influence and authority across the industry.

XCMG European Research Center was established in 2012 in Krefeld, North Rhine-Westphalia, Germany through greenfield investment. It now employs more than 3,000 people in Europe — 98 per cent of which are local employees.

"The center serves as an innovation platform to carry out the research and development of core technologies and products for the European market. XCMG has assigned production and R&D specialists from China to work together with local technicians in Germany to develop innovative technologies with independent intellectual property rights," said Zhang Chengyu, GM of XCMG European Research Center GmbH.

The platform received the Best Investment Award of North Rhine-Westphalia in 2013 and won the Outstanding Investment Award for Chinese Enterprises in Germany in 2019. Supported by the XCMG Research Institute, the center has also made continuous breakthroughs by fully utilizing the advanced scientific and technological resources in Europe and the resource advantages of China and Europe. Its focus has been on key core technologies such as hydraulics, transmission, electronics and software, intelligent control technology, national standards and more.

XMCG has launched more than 30 innovation projects and obtained over a dozen international patents. In addition, its innovative technologies have been applied in crane, excavator and firefighting equipment products, as well as in core components such as gearboxes, high-end hydraulic valves and high-security controllers.

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SOURCE XCMG