(Yicai Global) July 15 -- China's state-owned Xuzhou Construction Machinery Group, better known as XCMG, aims to introduce private capital by the end of this year and get listed within two or three years to complete its mixed-ownership reform. 

XCMG Information, XCMG's industrial internet unit, strives to go public separately on Shanghai's new Star Market within two years, China National Radio reported yesterday. Star Market is the eastern city's Nasdaq-style board that aims to make it easier for tech firms to raise funds. 

China started its SOE mixed-ownership reform in 2014 to boost state firms' productivity via increased amounts of private and foreign capital.

XCMG's total revenue rose by 30 percent in the first half of this year, and that of its exports jumped by over one-quarter, Chairman Wang Min told the CNR. More than one-quarter of the Jiangsu province-based firm's revenue comes from its overseas business, and the US market makes up less than 5 percent of the total. 

Founded in 1989, XCMG exports products to nearly 180 countries and it has three large manufacturing bases and 10 parts assembly plants in Asia, Europe and the US. The firm ranked sixth in the 2019 Yellow Table, a list of the world's top 50 construction machinery manufacturers, compiled by KHL Group.

Editor: Emmi Laine