Since the beginning of reform and opening up, China's construction machinery industry has achieved leapfrog development and made achievements that have attracted worldwide attention. In summarizing this process, many observers have particularly noted that "the construction machinery industry has tenaciously grown and flourished in the most unnoticed corners, and finally ushered in a garden full of spring colors with fragrance spreading across the land." To put it more plainly, the construction machinery industry was one of the earliest industrial sectors to fully embrace marketization. Now, in the practice of comprehensively deepening reform, respecting the laws of the market economy and removing institutional constraints and mechanistic restrictions arising from the misalignment of the relationship between the market and the government should be the natural course for construction machinery enterprises, and the time is right for it.

The construction machinery industry is a cyclical industry. The prosperity of a cyclical industry is highly correlated with the external macroeconomic environment. In recent years, the fundamental reason for the difficulties faced by the construction machinery industry is the weakening of the institutional dividends released by reform; the core problem is the misalignment of the relationship between the government and the market.

The second issue is mechanistic restriction. In addition to the characteristics of general heavy manufacturing industries, the most important feature of the construction machinery industry is that it serves construction projects. In China, during the period when the government played a decisive role in resource allocation, this meant an indissoluble bond with the government.

An analysis of the course traversed by China's construction machinery industry since the outbreak of the 2008 world financial crisis makes it easy to understand that, under the circumstance that the government played a decisive role in resource allocation, this indissoluble bond between enterprises and the government often led enterprises to misjudge economic development trends and fall into operational difficulties.

When the government plays a decisive role in resource allocation, resource allocation efficiency is low and resources may even be misallocated; the economic development model is inevitably extensive and unsustainable.

To guide practical innovation with the theoretical innovation of the market "playing a decisive role in resource allocation," it is necessary to effectively transform government functions, build a law-based government and a service-oriented government, mobilize the enthusiasm of enterprises as much as possible, maximize and tap national innovation capacity and emancipate productive forces, allocate resources most effectively, and achieve sustainable, efficient, and high-quality development. It can be expected that, with the continuous advancement of comprehensively deepening reform, China's construction machinery enterprises will enthusiastically "embrace the market," pursue innovative development, grow stronger and larger, and go global.