On November 9th, the 2014 APEC Business Leaders Summit was held at the National Convention Center. Caterpillar Global Vice President Chen Qihua said that Caterpillar hopes to use technological innovation to strive to take root in China.

“Innovative Development” is an important topic of APEC this year. When talking about Caterpillar's innovation initiatives, Chen Qihua said that Caterpillar, as the world's largest construction machinery company, has always adhered to the concept of using technology innovation to promote sustainable development. Chen Qihua said, "With the transformation of China's economy, Caterpillar strives to take root in China, through technological innovation, to meet the needs of Chinese customers with better technology products."

“We use coalbed methane to generate electricity in Shanxi, and 100 coalbed methane generating units can reduce carbon dioxide emissions by 3 million tons per year.” Chen Qihua said.

In the context of Asia-Pacific economic integration, Caterpillar manufactures products in China not only to meet the needs of Chinese customers, but also to export. “We have developed nearly 400 suppliers in China, many of which also provide supporting services to 45 companies around the world. That is to say, our supply chain is now developing into a globally integrated operation model, so the Asia-Pacific economy is integrated. This will be a great opportunity for Caterpillar to grow globally in the future.

When it comes to Caterpillar's global business model, Chen Qihua said that there are three aspects: First, planting, there must be products that are suitable for customers who are marketable. The second is to grow and meet the needs of customers efficiently by establishing a supply chain system. The third is harvesting, providing customers with the best after-sales support.

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