The Third Shandong Heavy Industry · Weichai Power Global Partner Conference was held in Jakarta, Indonesia, from Jan 22 to 23, with over 1,000 dealers, major clients, and financial partners from more than 20 countries and regions in Southeast Asia, East Asia, Australia, and New Zealand in attendance.

It is the third such event marking Shandong Heavy Industry Group's (SHIG) participation in the Belt and Road Initiative and its increasing international operations.

Tan Xuguang, chairman of SHIG, delivered a keynote speech and presented awards to 14 of the group's strategic partners for the year 2023. During the conference, representatives from six partner companies in Indonesia, Vietnam, and Singapore shared stories of collaborative development with Shandong Heavy Industry · Weichai Power.

An award ceremony for strategic partners of Shandong Heavy Industry · Weichai Power is held during the Third Shandong Heavy Industry · Weichai Power Global Partner Conference in Jakarta, Indonesia. [Photo provided to english.jinan.gov.cn]

SHIG's new products were also showcased at the event, featuring over 100 models and the latest technologies from 12 companies. The scale, breadth, and richness of the products exhibited at the event demonstrate the formidable strength of SHIG in the fields of new energy, power systems, commercial vehicles, construction machinery, agricultural equipment, and marine transportation equipment.

SHIG expanded its global presence further on Jan 22. Its subsidiary China National Heavy Duty Truck, or Sinotruk, signed a joint venture cooperation agreement with Indonesia's MNC Group, with MNC pledging full support in the development of competitive leasing services and the enhancement of overseas brand influence.

Sinotruk also signed an agreement with Indonesia's Meratus on the localization of commercial vehicle manufacturing.

This strategic layout in Indonesia for financial expansion and local manufacturing cooperation embodies SHIG's consistent cooperative philosophy toward global openness.

Headquartered in Jinan, SHIG is a multinational industrial equipment conglomerate with significant global influence, employing 150,000 people worldwide and generating 500 billion yuan ($64.95 billion) in annual revenue.

In recent years, SHIG has been continuously expanding its global footprint, with its exports valued at 85 billion yuan in 2023, a 57 percent year-on-year increase, maintaining a growth rate of 50 percent for four consecutive years.

SHIG currently has 287 overseas offices, 905 channel agents, over 10 local joint venture factories, and 1,500 employees stationed overseas, providing product and service solutions to over 150 countries and regions.