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 least noticed corner, 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 an industrial field that embraced marketization comprehensively very early on. 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 that the institutional dividends released by reform have been diminishing, and the core problem is the misalignment of the relationship between the government and the market.

　　The second issue is mechanistic constraints. In addition to the characteristics of general heavy manufacturing industries, the construction machinery industry also has the most important characteristic of serving construction projects. In China, during the period when the government played a decisive role in resource allocation, this meant an

　　inseparable 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 circumstances where the government played a decisive role in resource allocation, this inseparable 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, and the economic development model is inevitably extensive and unsustainable.

　　Guiding practical innovation with the theoretical innovation of the market "playing a decisive role in resource allocation" requires earnestly transforming government functions, building a law-based government and a service-oriented government, mobilizing the enthusiasm of enterprises as much as possible, giving the fullest play to and tapping the nation's innovative capacity and liberating productive forces, allocating resources most effectively, and achieving 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 bigger and stronger, and go global.