Multinational auto parts manufacturers accelerate "investment in China"

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Xinhuanet Changsha February 22nd (Reporter Chen Liming) On February 20th, the Bosch Group's modern logistics center with an investment of 4.3 million euros broke ground in Changsha, Hunan Province. Upon completion, it will greatly enhance Bosch's automotive logistics network operation capability in Central China.

In recent years, Bosch Group's investment scale in China has expanded rapidly. In 2005, the group invested about 600 million euros in China; between 2005 and 2007, it invested about 600 million euros in China. Peng Deyuan, president of Bosch (China) Investment Co., Ltd. said that in the next two years, Bosch's investment rate and intensity in the Chinese market should not slow down significantly.

According to statistics from the China Automotive Technology and Research Center, more than 70% of the top 100 auto parts suppliers in the world have come to China to conduct business. There are more than 1,200 foreign-funded enterprises producing auto parts in mainland China. In addition to Bosch, Delphi, one of the world's top 500 companies and one of the world's largest auto parts suppliers, has 13 production plants in mainland China and 43 products in the Chinese market. The industry believes that multinational auto parts manufacturers have stepped into the Chinese market, the biggest incentive is to seize the Chinese market. In addition, China's relatively low labor costs, as well as China's tariff policy on imported auto parts, have also promoted the expansion of foreign auto parts manufacturers in the Chinese market to some extent. According to China's "Administrative Measures for the Import of Auto Parts Having the Characteristics of Complete Vehicles", the same tariffs as those of the whole vehicle are imposed on parts and components that are greater than or equal to 60% of the value of the whole vehicle. Therefore, when multinational companies put into production new cars in China, it is an inevitable trend to bring key components such as engines, gearboxes and axles to China for production, or to work with Chinese companies to build a component matching system that can meet their own needs.

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