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Chinese auto parts exporters challenged by experts to raise technical contents
Shanghai. February 22 (Gasgoo.com) - China's auto parts suppliers need to raise their innovation ability and technical contents in order to maintain a sustainable growth in exports, an auto export and senior official from China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) said.
"High technical content auto components, like steering systems, chassis, transmissions, air conditioner, compressor and axle, only account for 18.3 percent of the total value of China's auto parts exports," said Fu Peizhao, deputy secretary general of the auto branch of CCCME.
He said while China is exporting a broad range of the auto parts, the lion's share of these products are low value-added auto parts with low technical content.
In addition, foreign owned or joint ventures auto parts suppliers account for 54.8 percent of the total export value while China's local suppliers only account for 24.3 percent of that volume, Fu said.
He said Chinese auto parts exporters must improve their competitiveness and realize economies of scale to face the challenge brought by mounting raw material cost and currency appreciation.
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