In fact, Chen Zhengli, Secretary General of the Mining Machinery Branch of the Construction Machinery Industry Association, predicts that the local companies will account for 50% of the excavator market in China within five years.

FORBES: The Battle For China's Construction-Machinery Market

Meanwhile, China is moving up the value chain into high-tech capital goods and is poised to account for about a third of global manufacturing of advanced machinery and equipment within a decade, from about 8% today, Mr. Zhu said.

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