After China joined the World Trade Organization (WTO), it committed to reducing its import tariffs on complete vehicles to 25% and parts to 10% starting July 1, 2006. This 15% tax differential has served as a powerful economic incentive, encouraging multinational corporations to shift their production of auto components to China. As a result, many global automakers and suppliers have restructured their operations to take advantage of this favorable policy environment. Multinational automotive giants are increasingly investing in China, driven by the industry's potential for growth. Industry standards suggest that the ratio of vehicle to parts production should be around 1:1.7, highlighting the vast opportunities for component manufacturers. This has attracted numerous international auto parts companies to set up joint ventures or wholly-owned subsidiaries in China, capitalizing on the country’s rapid automotive growth. These companies are no longer just focused on manufacturing; they are also expanding into research and development, establishing technology centers in the region. For example, Delphi, the largest U.S. auto parts supplier, has built 14 manufacturing plants in China with over $450 million in total investment, producing more than 40 different product lines. Bosch, one of the earliest global component giants to enter China, has established ten representative offices, four trading companies, seven wholly-owned enterprises, and ten joint ventures across the country. Similarly, as Japanese automakers expanded into China, their supply chain partners followed, relocating production facilities to the region. From a global perspective, major auto parts companies are evolving toward independent, large-scale, and high-quality development. Companies like Delphi and Visteon have separated from their original parent companies, such as General Motors and Ford, transforming from internal suppliers to global component providers. The strong growth potential of China’s auto market, combined with its cost advantages, has made it an attractive destination for foreign manufacturers looking to relocate their production bases. According to statistics, there are nearly 500 foreign-invested auto parts companies operating in China. While most still serve domestic demand, many are now expanding their production and R&D capabilities, leading to increased exports to international markets. This trend is driving significant growth in the sector. At the same time, multinational corporations are shifting their procurement strategies to reduce costs, turning their attention toward China. Many global automakers have established procurement centers in the country, with over $5.5 billion in spare parts purchases annually. Domestic companies like Wanxiang and Fuyao Glass have also become integrated into the global supply chains of major automakers. Market research indicates that with continued investment from leading suppliers such as Delphi, Visteon, TRW, and Lear, China’s auto parts industry is expected to grow by 165% by 2010. Its market share is projected to reach approximately 800 billion yuan, making it the largest investment destination globally. This trend underscores China’s growing role as a key player in the global automotive supply chain.

Hexagonal wire mesh machine

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