During the "10th Five-Year Plan" period, China's auto parts industry experienced significant growth. The sector was able to meet the needs of high-speed vehicle production and maintenance services, with capabilities in developing spare parts for commercial vehicles and low-end passenger cars. It also gained the ability to introduce and adapt mid- to high-end car components, marking a key step in the industry's development.
The automotive parts and components industry saw rapid expansion in terms of both the number of companies and overall output. According to the "Automotive Yearbook," in 2000, 1,500 companies generated a total output value of 59.7 billion yuan. By 2004, this figure had risen to 197.2 billion yuan, reflecting an average annual growth rate of 34.8%. During the same period, the number of automotive companies increased by about 500 per year, mainly concentrated in the Pearl River Delta, Yangtze River Delta, and Bohai Rim regions. Sales revenue in the industry grew at an average of 26.05% annually from 2000 to 2005, with auto parts companies seeing even higher growth rates of 36.82%.
However, after reaching high growth rates before 2003, the industry faced two years of negative profit growth in 2004 and 2005, with the entire automotive sector experiencing an average annual decline of 5.7%. While auto OEMs saw a sharp drop of 41.45%, auto parts companies still managed to grow at an average of 6.45% annually.
Technological advancements played a crucial role in the industry’s evolution. With the introduction of foreign technology and joint ventures, several high-tech products were developed and mass-produced. Companies like Shanghai United Electronics and Beijing Delphi Wanyuan introduced advanced systems such as engine management and ABS. Other firms produced airbags, automatic transmissions, and Euro III emission diesel engines, demonstrating a growing technical capability.
Multinational investments in China’s auto parts sector also surged, with over 1,500 companies involved by 2004. Many Fortune 500 companies established joint ventures or wholly-owned subsidiaries, bringing advanced technology and expertise into the market. These foreign firms focused on critical areas like electronics, braking systems, and powertrain components, significantly boosting China’s domestic production capacity.
Exports of auto parts also rose sharply, surpassing imports by 2005. This marked a turning point, shifting the industry from a net importer to a net exporter. Products began entering original equipment manufacturer (OEM) markets, moving from low-value to high-value-added goods. Some Chinese brands even entered international procurement systems, showcasing improved technical standards.
Domestic auto parts companies also made strides in self-developed technologies and branded products. Companies like Shijiazhuang Jiule and Geely developed key components such as airbags, CVTs, and diesel engines, enhancing their competitive edge.
Industrial clusters around major manufacturers emerged, improving efficiency through specialization and scale. Private enterprises also grew rapidly, becoming key players in both the aftermarket and export sectors. Companies like Wanxiang Group and Zhejiang Sanhua gained international recognition.
In 2005, the auto parts market reached approximately 580 billion yuan, with exports accounting for 120 billion yuan. The industry employed over 1.15 million people, contributing significantly to the broader automotive sector. Despite challenges, the industry continued to evolve, showing strong potential for future growth and global competitiveness.
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