"First Financial Daily" recently reported that according to Chen Mingde, the deputy mayor of Guangzhou, the city is actively pursuing a strategic vision for its automotive industry. The plan emphasizes leveraging the influence of major vehicle manufacturers and focusing on the development of secondary and tertiary component industries in the future. The ultimate goal is to position Guangzhou as a key global supplier of auto parts.
Recently, Chen Mingde led a trade delegation to Japan for investment and business exchange activities. During the trip, Guangzhou signed 36 investment agreements or cooperation intentions, with a total investment of 1.42 billion yuan, including approximately 370 million U.S. dollars in foreign investment. This move highlights the city's growing interest in strengthening its automotive supply chain.
Currently, Guangzhou is developing an automotive industry cluster across the east, north, and south, with Dongfeng Nissan, Guangzhou Honda, and Guangzhou Toyota at its core. Around these major manufacturers, more than 400 foreign-invested parts companies have established operations, creating a strong ecosystem of suppliers.
Since the beginning of this year, the three major automakers in Guangzhou have accelerated their market expansion efforts. To support this growth, the city has planned several large-scale automotive component parks near these manufacturers, aiming to further integrate the local supply chain.
In 2005, the total output value of vehicles in Guangzhou reached 63 billion yuan, while the production value of auto parts was 16.3 billion yuan. This resulted in a parts-to-vehicle ratio of only 0.3:1. In comparison, the internationally accepted ratio is around 1.7:1, indicating significant potential for growth in Guangzhou’s auto parts sector.
"Guangzhou’s initiative to build a robust auto parts industry is a crucial step in aligning with the global strategies of multinational automotive companies," said Jin Yongsheng, an analyst at Guangzhou Xinhuaxin Automotive. "This move not only strengthens the local economy but also enhances the city’s competitiveness on the global stage."
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