Under pressure from slower construction growth, Chinese companies in the building machinery industry are trading up and showing improved competitiveness at this year's 2014 Bauma China construction machinery show.

This is the fourth time Lonking Construction Machinery has attended Bauma China, the international trade fair for the construction machinery industry held in Shanghai once every two years. Lonking’s latest products, including a series of hydraulic components, pumps and valves, result from a 1 billion RMB investment project.Apart from striving for technological advancement, developing more environmental-friendly technologies and adopting green manufacturing are other goals set for the construction machinery industry by China’s five-year-plan for 2011-2015.

Responding to customer demand, construction machinery giant Zoomlion introduced 27 new products that are energy-efficient and environmental-friendly at the show this year, Instead of investing in independent innovation, however, Zoomlion has acquired its technologies through mergers and acquisitions.

Over 3,000 exhibitors are attending the Bauma show this year, one-third of them from overseas including big names like Volvo Construction Equipment.As a global industry leader, the company says they do not feel pressured about potential competition from developing Chinese companies, but rather see it as a driving force.

Weissburg says the Chinese market is going through a correction phase, and is growing more mature. Industry statistics released by the Ministry of Commerce show sales volumes in the main construction product catrgories have all dropped since last year.