Michel Temer, President of Brazil, cordially met with XCMG Chairman Wang Min, Vice President of XCMG Machinery and Chairman of XCMG Brazil Wang Yansong and an XCMG delegation on October 25 at the Presidential Palace in Brasilia, Brazil. XCMG describes the talks as “positive.” President Temer expressed his appreciation of XCMG’s investments in Brazil and contributions to the local economy in the country, praising the company’s achievements in Brazil to have set a good example for more Chinese enterprises that are willing to invest in Brazil.

“This is the second time to meet with Mr Wang after G20 Hangzhou Summit, China keeps its economic growth at a higher level, which provides valuable experience for the world,” said President Temer. “The Summit can bring ‘China Mode’ to more countries, and the Brazil economy in the recovery period has more need for China’s experience.”

The XCMG manufacturing base in Brazil is not only the company’s largest overseas manufacturing base, but also the first and largest construction machinery industrial park in Brazil built by the Chinese construction machinery industry. The factory has brought more values to XCMG’s local clients as well as pushing the economic development in Brazil.

Wang explained XCMG’s strategy of basing itself in Brazil and further influencing South America will continue and “will hold fast to the promise during the economic downturn Brazil is going through, and the company is confident in investing in Brazil.”