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Chongqing Wangjiang Industrial Co., Ltd. (CWIC)
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Chongqing Wangjiang Industrial Co., Ltd. (CWIC) was originally founded in 1933 in Qingyuan County, Guangdong Province under the name of “Guangdong No. 2 Arsenal”. It was then moved in 1938 to Chongqing and renamed “the 50th Arsenal”. After the founding of the PRC, the establishment was administered by the “Central Bureau for the Arms Industry”. In 1957, it was given a secondary name “State-owned Wangjiang Machinery Plant”, which was changed to “Wangjiang Machinery Inc.” decades later in 1992. It was not until 2003 that the arsenal began to operate under its current name “Chongqing Wangjiang Industrial Co., Ltd.” as the result of restructuring and incorporation.
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CWIC, a decades-old manufacturer of armament, has a glorious past. It is now a Category 1 affiliate to China South Industries Group and designated by the central government as one of China’s key military equipment developers and producers. It is also recognized as a high-tech company that produces high-tech products using high-tech processes. As a large SOE, CWIC develops and manufactures products that have always been a focus of national concern and a market leader as its core technologies are mostly introduced from abroad, digested and uplifted to the world’s advanced level.
Administratively CWIC belongs to Jiangbei Distric of Chongqing Municipality. It is located by the Yangtze River and at the foot of the Tieshanping Mountain, covering a total area of 10.68 million square meters. The company has now a total asset value of RMB 4.39 billion and a staff of some 3600 persons including more than 700 technicians and engineers in varies fields, of whom over 190 are senior engineers including 30 researches who recipients of a special exhortative national government allowance. In addition, 12 domestically-renowned experts (including 2 academicians) have been hired as senior advisors who provide a strong backup for the company in product development and corporate management. CWIC has, in the past three years, been one of Chongqing’s top 50 industrial enterprises and has built a defense industry technical center and provincial-level technical center. It has passed the national certification for high-tech enterprises.
In recent years, CWIC has achieved a sustained growth in both output and profit with its contributory power and influence significantly enhanced. Since 2004, the company, while actively striving towards its goal of becoming a development and production base for special equipment in the strategic thinking of “survive by military products and flourish by civilian products” to consolidate its status as a military equipment manufacturer, has made further changes in its mode of operation by diversifying the targets for investment, activating its inventory assets and optimizing its assets structure and has quickened its leap-forward pace of expansion as it has maintained an average annual growth rate of over 30%.
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