China's auto parts exports reached 15.235 billion U.S. dollars in 2005
In 2005, China's automotive export industry reached a significant milestone. As vehicle exports surged, the market for auto parts also experienced remarkable growth, with the export value climbing to $15.223 billion—an impressive 75.11% increase compared to the previous year. This marked a turning point in China's role on the global automotive stage.
Today, China stands as the fifth-largest supplier of auto parts to the United States. According to KPMG, a leading international consulting firm, while China's spare parts manufacturing is still in an early developmental phase, it is poised to become a major player in the global market. The report predicts that Chinese auto parts manufacturers will soon emerge as key participants in the worldwide market for replacement and repair components.
During the "Eleventh Five-Year Plan" period, China aimed to boost the average annual growth rate of its automotive and auto parts industries by over 40%. By 2010, the country expected to reach an export value of $70 billion, signaling its growing influence and competitiveness in the global automotive supply chain. This rapid expansion reflects not only China’s increasing production capabilities but also its strategic focus on becoming a major force in the international automotive sector.
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