In 1943, XCMG's predecessor, the Huaxing Iron Factory (The Eighth Route Army Lunan 8th Arsenal), was founded. In 1957, XCMG successfully completed the trial production of its first tower crane, marking the company's first step into the construction machinery industry. In 1963, XCMG successfully developed China’s first 5t crane truck. In 1976, XCMG successfully developed China’s first QY16t full-hydraulic crane truck. In 1982, XCMG successfully developed China’s first CA25 full-hydraulic single-drive single-wheel vibratory roller.
XCMG is a courageous explorer and pioneer of reforms and has become a cornerstone of China's reform and opening up. By sticking to its core values of “Taking Responsibility, Acting Morally, and Achieving Greatness”, XCMG shows its strength and splendor in the international arena.
In 1999, a new leadership team took over XCMG and implemented the “Seven Special Governance Items” to strengthen discipline and curb waste, which heralded a new chapter in XCMG's development. In 2000, XCMG pressed ahead with the “Chairman's No. 1 Program,” and successfully developed the ZL50G, an iconic third-generation Chinese loader. In 2002, XCMG successfully developed the first Chinese developed all-terrain crane, the QAY25. In 2003, XCMG became the leading Chinese construction machinery company with operating revenue and sales revenue both in excess of RMB 10 billion. In 2001 XCMG arrives to Argentina and starts business with IRON GROUP.
In 2006, the foundations were laid for XCMG's Chongqing Construction Machinery Base, marking a crucial step in achieving XCMG's strategic domestic and overseas layout.In 2009, XCMG listed on the stock exchange, which helped it out of the strategic difficulties it had faced over the previous four years due to a restructuring as a result of cooperation with Carlyle Group.
In 2013, XCMG’s independently developed 4,000t crawler crane, reputed as “The World No.1 Crane,” successfully completed its first lifting operation. The XCMG Europe Research Center was founded in Dusseldorf, Germany, bringing together high-end technical talent from all over the world. In 2014, the XCMG Brazil Production Base, the company's first overseas wholly-funded production base, was completed and put into operation.