Belt and Road Initiative gives YTO chance for further development (4)

In 1958, China's first caterpillar tractor "Dongfanghong" was manufactured in Luoyang Tractor Factory, marking the first step of China's tractor industry. In the past six decades, the factory which renamed as YTO Group Corporation has produced 3.31 million tractors and 2.45 million power machines. The Belt and Road Initiative gives YTO an opportunity to further development. In the recent years, YTO built several factories in Serbia, South Africa, Poland and other countries. In 2011, the French company McCormick, an old tractor factory founded in 1950s, was acquired by YTO. In 2015, YTO was listed on the first six Chinese companies settled in the China-Belarus Industrial Park. After experiencing the development process from technology import to independent research and development, YTO enhanced its competitiveness and more "Dongfanghong" tractors would show in the fields at home and abroad.