The agreement, witnessed by vice premier of the China State Council and member of the Standing Committee of the Political Bureau of the CPC Central Committee Wang Yang alongside US Secretary of Commerce Wilbur Ross, has foundations in the OEM's long-term relationship and 'mutual trust' with China Energy predecessor Shenhua.

"With its outstanding products, services and solutions, Caterpillar has truly fulfilled our business needs," China Energy Investment senior executive Li Dong said. "The newly signed strategic agreement will further strengthen and expand our partnerships, and create value to further support our globalisation endeavors."

"China Energy is an outstanding model of state-owned enterprises in China, and we look forward to jointly promoting the sustainable transformation of the coal industry in China," Caterpillar vice president and Caterpillar China chairman Qihua Chen added.

Caterpillar Resource Industries group president Denise Johnson noted that, in support of strengthening and expanding the countries' relationship, mining equipment supplied to China Energy for upcoming projects is expected to include products exported from the US.

Caterpillar has supported China Energy's efforts to achieve efficient and more sustainable operations in both surface and underground coal mines in China, including Zhun Ge'er and Shen Dong. China Energy has also expanded into the international mining industry, thanks to the support it has gotten from Caterpillar's global dealer network.