The “Engineering Machinery Market Index” mechanism officially launched

Recently, at the first Engineering Machinery Technology Innovation Conference, Song Lewei, Secretary of the Xuzhou Municipal Party Committee, Chi Yu, member of the Party Group and Deputy Director of the Jiangsu Provincial Department of Industry and Information Technology, Luo Junjie, Executive Vice President of the China Machinery Industry Federation, Su Zimeng, President of the China Construction Machinery Industry Association, and Yang Dongsheng, Chairman and Party Secretary of Xugong Group and Xugong Machinery jointly launched the “Engineering Machinery Market Index” mechanism. In the future, this index can provide important reference for macroeconomic judgment and enterprise operation decision-making.

The “Engineering Machinery Market Index” is based on the operation of engineering machinery equipment, by analyzing the average working hours, working rate and other key indicators of one or more typical and representative engineering machinery products, to timely and effectively reflect the changes in the situation of various construction fields and the construction situation and regional construction heat of various provinces and cities, and then to accurately judge the development trend of various regions and industries closely related to it.

Lv Ying, deputy secretary-general of the China Construction Machinery Industry Association, explained the “Engineering Machinery Market Index” work plan, saying that at present, the China Construction Machinery Industry Association has joined forces with member enterprises such as Xugong to initially select seven categories and 12 types of engineering machinery products. The average working hours, working rate and other indicators were used to carry out the first engineering machinery market index analysis.

As early as 2005, Xugong began to try the application of engineering machinery Internet of Things technology. With the help of Internet of Things technology and big data analysis, it monitored every construction and every action of engineering machinery equipment in real time. The “Engineering Machinery Market Index” came from the big data analysis of a large number of equipment.

As the first self-developed industrial Internet platform in China, Xugong Hanyun Industrial Internet Platform has continuously carried 1.5 million high-end value-added equipment. Its start-up data forms a large data resource pool, uploading more than 200 million pieces per day. The annual increase in data volume exceeds 1PB. It monitors the real-time dynamics of engineering machinery-related industries and can accurately and timely reflect the economic environment operation.

In the future, Xugong will take the opportunity of launching the “Engineering Machinery Market Index” mechanism to further strengthen cooperation with the China Construction Machinery Industry Association, continue to increase research and development investment, continuously improve product intelligence level, and promote continuous innovation and development of China’s engineering machinery industry.