China's auto parts industry is entering the global supply chain of multinational companies
Changchun, Xinhua - April 11th (Reporters: Zhang Yi and Du Xuejing) With the rapid growth of China's automotive industry, a comprehensive auto parts sector has been established. Increasingly, multinational automakers are integrating China into their global supply chains. As one of the world's largest automotive companies has entered the Chinese market, many leading international auto parts manufacturers have also chosen to invest in local factories or collaborate with domestic suppliers. Currently, 1,200 out of the 5,000 auto parts companies in the country are foreign-funded enterprises. These multinational firms are not only targeting the Chinese market but also positioning China as a key production base to supply their global manufacturing network.
At the same time, private auto parts companies in China have experienced significant growth. A number of high-tech, efficient, and large-scale enterprises have emerged, helping narrow the gap between China’s auto parts industry and global standards. An initial competitive manufacturing system has taken shape, allowing China to meet both domestic and international demand.
Since the reform and opening-up policy, China's automotive industry has achieved remarkable progress. The auto parts sector has not only fulfilled domestic needs but also begun to enter the global market. Some components produced in China have gained recognition from multinational corporations and show great potential for export.
Wei Jianguo, vice minister of the Ministry of Commerce and director of the National Electromechanical Products Import and Export Office, announced that the government will implement seven measures to boost auto and parts exports. First, supporting domestic companies to grow stronger and more competitive. Second, leveraging the global strategies of multinational firms to enhance China's auto manufacturing capabilities. Third, accelerating the development of export bases for automobiles and parts. Fourth, increasing policy support for exports. Fifth, promoting international certifications for enterprises. Sixth, improving export service systems. Seventh, regulating export markets and preventing price wars abroad. (End)
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