RMB100 Billion--2010 Target of Guangzhou's Auto Parts Industry

According to the report of Economy and Trade Committee in Guangzhou, their local Auto Parts Industry developed dramatically following the Auto Industry's prosperous. In 2004, output value of auto parts industry hit RMB16.3 billion, up 52.3% from 2003. By 2010, the output value of Guangzhou's auto parts industry will hit RMB100 billion and Guangzhou city will become a global supply base for the auto parts. Guangzhou city located in south-China's Guangdong province. It's one of the major sources of economic growth in China. It's said that auto industry has become the major industry of Guangzhou city since the founding of some auto joint ventures. For example, Honda, Toyota and other famous auto manufacturers has formed their joint ventures with China company in Guangzhou. Since 2000, auto output in Guangzhou has increased by the speed of 64% per year and output value hit RMB63 billion. By 2010, the total output of auto in Guangzhou will reach 1.3 million, output value of the whole auto industry will reach RMB30 billion. But the auto parts industry doesn't developed as dramatically as the auto industry. In 2004, the auto parts/auto output ratio in Guangzhou was 0.3/1, which was far away from the international ratio of 1.7/1. So for Guangzhou's auto parts industry, there's still a long way to go!