“In the context of the deepening of the impact of the current international financial crisis, China’s auto parts companies can “pick the broom†abroad according to their own strength.†On December 10, Deputy Secretary-General of the China Association of Automobile Manufacturers, Dong Jianping, held the theme of the Shanghai International Auto Parts Exhibition. The speech was expressed.
Dong Jianping suggested that domestic enterprises should not blindly go out to “bottom the bargain†based on their own strength and development status. He said: "All along, the key technologies for auto parts have been in the hands of foreign companies. The impact of the current international financial crisis has deepened, and some foreign companies possessing key technologies will sell technologies in order to survive and develop. After years of development, some auto parts enterprises have also gained certain economic strength, and it is relatively easy to co-operate with them or buy them at this time, but it is also not possible to buy blindly, if the strength is not enough, the digestive ability cannot keep up. If you buy technology, it will not only fail to digest, but it will become a burden on the company."
Dong Jianping said that in the second half of this year, although the country adjusted its fiscal and financial policies in a timely manner, the impact of the financial crisis triggered by the US subprime mortgage crisis on the real economy began to show. First of all, it has a direct impact on the export of automobile products in China. According to statistics of the General Administration of Customs, in the first nine months of this year, total vehicle exports totaled 557,500 vehicles, an increase of 34.71% year-on-year, but the rate of increase was down by 29.3 percentage points over the same period of the previous year; export value was 7.601 billion US dollars, an increase of 58.39% year-on-year. However, compared with the same period of last year, the growth rate dropped by 58.45 percentage points. Second, people’s pessimistic expectations of the economic outlook have affected the domestic auto market and have declined since August.
Dong Jianping said that the declining growth rate of the vehicle market will inevitably have an impact on the parts and components industry.
However, Dong Jianping also pointed out that the current fall in energy and raw material prices will help companies optimize costs and reduce the impact of exchange rates. This is an opportunity for small and medium-sized parts enterprises to improve their internal management and further expand the market.
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