Acquisition made it world No 1 in concrete machinery

BEIJING - Only companies that integrate resources on a global scale will be winners in the future, particularly in manufacturing, said Zhan Chunxin, chairman of Changsha Zoomlion Heavy Industry Science & Technology Development Co, at an economic forum organized by China Central Television.

"The advantages of technology and talent in advanced Western countries are declining, but the advantage of cheap labor in developing countries such as China is fading at the same time," he said.