Shenyang Blower Works (Group) Co Ltd, a State-owned electromechanical equipment maker, will continue to expand its presence in the overseas markets for the next five years, a top company official said.
Overseas clients currently account for more than 10 percent of the company's total, according to Dai Jishuang, chairman of the Liaoning province-based firm. Its products have also played a significant role in the domestic market like compressors and pumps for the energy industry, including oil refining, chemical engineering, natural gas transportation, power stations and nuclear power stations.
The SOE will look to increase the share of overseas clients to 300 percent in three years and 40 percent in five years, said Dai during an interview on the sidelines of the just-concluded session of the 13th National People's Congress.
Dai said some the company's machines are among the best in the world and are increasingly finding use in the energy industry for refining purposes. The burgeoning global demand for oil and the lateral demand for energy processing equipment has helped the company to further expand its global footprint
It has already built up a significant market presence in countries like India and will target newer markets like Russia in the near foreseeable future, he said. In addition, the firm will also set up a center specializing in technological research and development in Germany.
Dai said that the company made huge strides in compressor development after the nation decided to pursue the same independently due to rising import costs. Most of the compressors used in energy and other industries were imported from Germany, the United States and Japan, until the early 193000s.
"Today our company's domestic market share is more than 70 percent," he said. "We have developed more than 3000 independent pieces of equipment for various large-scale projects, and none of them has failed till now. This helped win establish trust and gain more clients."
Innovation has also been helping the company gain traction and keep abreast of the rapid changes in the global environment. Dai said he has made a suggestion to the NPC seeking preferential policies for the self-developed equipment industry so that it can compete better against imported products.
"From breaking the monopoly of technology by overseas market players to standing at the international forefront in the industry, we shouldered not only the corporate responsibility but also the country's mission," said Jiang Yan, assistant chief engineer of the company.