Deputies of the National People's Congress Luan Ping: The tax revenue is behind Yuchai's "Made in Guangxi" to "Made in China"

As a representative of “Made in Guangxi”, after the Spring Festival, Guangxi Yuchai Co., Ltd. had a good news. In the weak overall market, Yuchai’s orders for engine products quickly picked up. In January, orders were delivered to 38,000 units, a year-on-year increase of 21%. He won the first month of the month.

Facing the blazing market, Yu Ping, deputy to the National People's Congress and chairman of Yuchai, said that it is the improvement of the core competitiveness represented by the research and development of new technologies, allowing the company to maintain a good momentum of development. According to statistics, only during the “Twelfth Five-Year Plan” period, Yuchai invested RMB 3.5 billion in research and development, and its ability to research and develop new technologies has increased significantly. In the past five years, Yuchai has won the second prize of the National Science and Technology Progress Award three times and has obtained 2,308 authorized patents, an increase of 281% year-on-year. The number of patent applications ranked first among enterprises in Guangxi for 11 consecutive years.

National People’s Congress Representative Fuping National People’s Congress Representative Fuping

Fuping said that the company has invested heavily in R&D. In addition to its own development needs, tax support is also one of the main drivers. In respect of the hi-tech enterprise income tax reduction and exemption, the company has received over 100 million yuan in annual benefits. After the full implementation of the reform, last year, Yuchai enjoys tax policy benefits of several tens of millions of yuan in less than one year, and benefits over time. Will be bigger. The company mainly invests tax deductions into new technology research and development, allowing the company to obtain greater returns at a lower cost.

On July 28, 2016, Peng Qinghua, the party secretary of the Guangxi Zhuang Autonomous Region (middle front row), praised Yuchai’s R&D and product innovation efforts during his visit to Yuchai. On July 28, 2016, Peng Qinghua, the party secretary of the Guangxi Zhuang Autonomous Region (middle front row), praised Yuchai’s R&D and product innovation efforts during his visit to Yuchai.

In 2016, Yuchai’s share of the engine market reached 16%, continuing to lead the industry, and the position of “Made in China” industry and market discourse was significantly enhanced. The company sold more than 330,000 engine engines throughout the year. The company's operating quality and profitability continued to rise. The marginal contribution rate of products increased by 2.2 percentage points year-on-year, and operating efficiency reached the highest level in history.

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