According to news from Xinhua News Agency, the value of auto parts exported from Tianjin Port from January to July this year was US$589 million, an increase of 61.1% over the same period of last year. Industry analysts believe that with the influx of foreign capital, the increase in the level of domestic auto parts production and manufacturing, coupled with competitive prices, is an important factor in causing substantial growth in exports.
According to statistics from the Tianjin Customs, from January to July, Tianjin Port exported 300 million U.S. dollars of auto parts and components by general trade, an increase of 53.8%, accounting for 51.3% of the total export value of Tianjin Port at the same time; and exported 278 million U.S. dollars by processing trade. , an increase of 70%, accounting for 47.2%. The main export markets are the United States, Japan, and the European Union, which accounted for 76.6% of the total value of automobile parts and components exported by Tianjin Port in the same period.
Among them, foreign-invested enterprises accounted for a large share of exports of auto parts, auto parts exports valued at 451 million US dollars, an increase of 69.3%, accounting for 76.5% of the total value of auto parts exported from Tianjin port during the same period.
According to analysts from the Tianjin Customs, the main reason for the recent increase in Tianjin auto parts auto parts exports is that foreign investment in Chinese auto parts and components has increased year by year, resulting in rapid growth in exports. As the world's automobile manufacturing industry accelerates its transfer to China, foreign parts and components companies also follow the vehicle companies to invest in factories in China, or carry out technical cooperation with domestic parts and components factories, which greatly promotes the construction and development of China's spare parts industry.
The price advantage of domestic products with the same variety and specifications of auto parts has also promoted the growth of Tianjin Port auto parts exports. With the influx of foreign investment, the domestic auto parts production and manufacturing level has increased. Components such as axles, frames, steering, brakes, electronics and appliances, trims, passenger protection systems, and exhaust systems have all reached a high level and can meet the requirements of foreign automakers. Only 10%-30% of foreign similar products.
According to industry insiders, auto parts made in China are very competitive in the European market. Even with the cost of transportation included, the prices of these parts are still lower than those produced abroad.
Tianjin Customs pointed out that although the growth of export auto parts is significant, domestic auto parts manufacturers still lack the high R&D capabilities of high value-added products and high-tech products. The lack of key products and key technologies has become a bottleneck for new development. The recent exchange rate changes have also increased the export costs of auto parts and reduced the profitability of the company.
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