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Lovol Attended Forum on China-Africa Cooperation by Invitation to Boost the Economic Development of Africa

Recently, our journalist learned from Lovol that this enterprise as a representative of Chinese enterprises attended China-South Africa Economic and Trade Investment Forum, Higher-level Dialogue between Chinese and African leaders and representatives of Industrial and Business Circles, which is also the 5th Conference of Chinese and African Entrepreneurs as well as China-Ethiopia Economic and Trade Forum held in Addis Ababa under invitation. This brings more market opportunities and development     opportunities for business expansion of Lovol in Africa, further advancing the progress of integration and industrialization of Africa. 

As a leading enterprise in domestic machinery equipment manufacturing industry, Lovol walked out of China since 2005. With its unique development pattern of global R&D, manufacturing in China and global distribution, the competitiveness of its products in international market and localized operation improves steadily. Up to now, the number of accumulated all kinds of machinery products exported by Lovol is more than 120,000 sets. Lovol Products have been exported to more than 120 countries and regions including Africa, Asia Pacific, Europe and America and the Commonwealth of the Independent States (CIS). It won the orders of government procurement projects such as order of 204 wheat harvesters for Sudan, the second big order of agricultural machinery worth of RMB 100 million for Mongolia, order for Sri Lanka worth of RMB 200 million, order of agricultural machinery worth of RMB 100 million for Mali, 50 sets of loaders for Libya, which were all large orders with great influence in this industry. 

Africa as a strategic market of Lovol, Lovol has been supporting the local development of Africa since it exported the first set of wheat combine-harvester to Africa in 2005. For ten years, Lovol has been providing large quantities of agricultural equipment and engineering machinery products for agriculture, transportation and infrastructure construction of Africa. Its products sell well to more than 30 countries and districts including Algeria, Libya, South Africa, Mali, Sudan, Kenya, Tanzania and Congo. Currently, its export volume to the African market accounts for 1/3 of the total export volume of Lovol, and the export proportion is continuously increasing.

Among the exported products, over 8,000 sets of Lovol loaders have been exported to Africa; the number of Lovol agricultural machinery products has exceeded 15,000 sets with a market share of over 30%, ranking top in China’s exports. And Lovol has continuously obtained the orders of China’s assistance projects of agricultural machinery procurement for Sudan, Angola, Mali, Ghana and other countries. In June, 2015, Lovol obtained the largest order of China’s assistance project of agricultural machinery for Africa, involving 1,000 tractors and 2,800 sets of agricultural tools, worth of over RMB 100 million.