Sun Wei, founder of Zhejiang MHP Tech Co

Sun Wei, founder of Zhejiang MHP Tech Co, takes a selfie at the closing ceremony of the 2019 National Mass Innovation and Entrepreneurship Week in Hangzhou, Zhejiang province, on June 19. [Photo/zjol.com.cn]

As a doctoral graduate of Tampere University of Technology in Finland, Sun Wei moved back to Zhejiang province in 2011 and founded the Zhejiang MHP Tech Co, a high-tech enterprise focusing on hydraulic transmission, control technologies and independent research and development of mobile equipment manufacturing.

"The industrial market was monopolized by foreign companies, and we are eager to break this monopoly," said Sun, adding that after three years of effort, the company has successfully developed a world-class drilling rig whose domestic market share now exceeds 90 percent.

The booming development of digital economy in Yuhang district allowed Sun to see the possibility of combining "hard technology" with digital economy.

In 2014, Sun established another company to analyze the operating machines with technologies such as internet of things, big data, and artificial intelligence, greatly improving working efficiency.

"We chased after foreigners in the past, now, it's their turn to chase after us in developing world leading technology," Sun said.

Statistics revealed that the added value of Yuhang's high-tech industry totaled 5.97 billion yuan ($866 million) in the first quarter of the year, accounting for 62 percent of the industrial scale above the designated scale.