BEIJING, March 24, 2014 /PRNewswire/ --Caterpillar Inc. (NYSE: CAT) Chairman and CEO Doug Oberhelman served as the co-chair of the 2014 China Development Forum (CDF) along with Li Wei, Minister of Development Research Center of the State Council of China. The event was held in Beijing on March 22-24.
Since the CDF started fifteen years ago, China has grown to become the second largest economy in the world and the CDF has grown into a global event, attracting business executives, government officials and academics from every region of the world in a venue where they exchange ideas and have open dialogue.
"I was honored to be the co-chair for the 2014 CDF and was impressed by the focus on comprehensive reforms that are now being pursued by the Chinese government as it seeks to transform its economy to achieve more sustainable growth," Oberhelman said.
"Again and again during the two day event, we took part in candid discussions on topics as wide-ranging as industrial overcapacity, the rule of law, urbanization, taxation, financial and environmental reforms and the importance of transparency in a market oriented economy. Such an ambitious reform agenda will be challenging, however it also provides opportunities for Caterpillar to support its customers in China as the company continues building out its business model," Oberhelman added.
Over the last 40 years in China, Caterpillar has grown from a single office in Beijing to a cross-country footprint of 28 manufacturing facilities, four research and development centers, three logistics and parts centers and a strong dealer and supplier network, with about 15,000 Caterpillar employees.
About Caterpillar: For nearly 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2013 sales and revenues of $55.656 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Resource Industries, Construction Industries and Power Systems - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.
SOURCE Caterpillar Inc.