Five years of arduous progress; five years of accumulating strength and bursting forth. The spirited Chinese automotive parts industry welcomes the arrival of the 19th National Congress with hard work and solid achievements.
China's automotive industry is on the path from being large to becoming strong. Despite the thorns and twists ahead, nothing can stop our forward steps. Behind the expansion and steady progress of China's automotive industry scale is the support of the collective strength of Chinese automotive parts enterprises.
Only with strong independent parts enterprises can Chinese brand cars be strong—this is the Chinese dream of every person in the Chinese automotive industry. Over the past five years, this dream has become clearer and closer. In 2012, there were 9,341 automotive parts enterprises above designated size nationwide, with a total operating income of 2,226.7 billion yuan, an increase of 11.97% compared to the previous year. By 2016, the number of automotive parts enterprises above designated size had reached 12,757, with cumulative revenue of 3,720.2 billion yuan, an increase of 14.23% compared to the previous year. In terms of profit margin, the automotive parts industry was 7.68% in 2016, an increase of 0.84 percentage points compared to 2012.
Since the 18th National Congress, not only has China's total automotive production and sales achieved rapid growth, but the profitability of the automotive parts industry has also significantly improved. Chinese automotive parts enterprises have focused on enhancing independent R&D capabilities, continuously breaking the monopoly of foreign-funded enterprises in key automotive parts fields, making the mark of 'Made in China' and Chinese brands particularly prominent.
