General Manager Qin Qun arrived at Taiyuan Heavy Machinery Group (TZ) on May 19, 2016 for a two-day visit. During his visit, Qin Qun separately met TZ board member and Taiyuan Heavy Industry general manager, Fan Weimin and TZ CFO Du Meilin. He also visited the TZ Exhibition Center.

Since 2011, JIC Leasing has been a close partner with TZ in a number of areas including mining machinery, special heavy equipment, rail transport and marine engineering, thereby delivering the company’s funding needs under multimillion-dollar leasing arrangements. The talks with TZ mark a new milestone for the cooperation between JIC Leasing and TZ in high-end equipment. Leveraging JIC Leasing’s cross-border leasing platform and investor relations, TZ will continue to work with it (JIC Leasing) in rail transport and marine engineering as well as jointly explore international high-end equipment markets such as APAC, Europe and United States under China’s Belt and Road Initiative.

Founded in 1950 as China’s first domestically built heavy machinery plant, TZ is one of the large state enterprises. The company’s subsidiaries include Taiyuan Heavy Industry Co. Ltd. (THI), TZ Coal Mine Whole-Set Equipment Co., Ltd. and Yuci Hydraulics Co., Ltd. among others. Going public in 1998, THI designs and manufactures products that are widely used in transportation, energy, aerospace and marine engineering as well as being sold in more than 20 countries and regions. Since 2006, TZ has invested billions into its technology and business transformation initiatives by moving into burgeoning sectors such as rail transport and marine engineering. In 2015, TZ Technology Center came second among China’s hi-tech enterprises as a supplier of high-speed train wheel axles to Deutsche Bahn AG. The company’s high-speed train wheel axles will be available in the domestic market in 2017. THI is a key supplier to many European and American companies including Deutsche Bahn AG, with more than 70 percent of its rail products being sold in Europe and America. TZ recently acquired a 50% stake in Zhibo, a China Railway Corporation subsidiary, thereby paving way for an expansion in the high-speed train wheel and axle market.