Guangdong auto parts market for 5 years or 300 billion yuan

Abstract Seizing the opportunity presented by the group transfer of European and Japanese auto parts companies, Guangdong is set to establish five specialized auto parts industrial parks this year. The province also aims to complete 100 investment projects annually as part of its broader strategy to strengthen the automotive industry ecosystem. The Guangdong Provincial Economic and Information Commission has recently released the “Action Plan for Accelerating the Development of the Auto Parts Industry and Further Improving the Automotive Industry System” for public consultation. This initiative reflects the province’s ambition to not only attract foreign investment but also enhance local manufacturing capabilities and technological innovation within the sector. According to industry forecasts, within the next 5 to 8 years, the combined output value of auto parts and vehicle production in Guangdong could exceed 300 billion yuan. This growth is expected to be driven by increased collaboration between domestic and international manufacturers, as well as continued government support for infrastructure and R&D. In addition, recent economic data shows that industrial activity in Guangdong is steadily recovering. Last year, the added value of large-scale industrial enterprises reached 2.19881 trillion yuan, representing an 8.4% year-on-year increase. Meanwhile, total retail sales of consumer goods amounted to 2.26771 trillion yuan. For this year, officials are optimistic about a further 8.5% growth in the added value of large-scale industrial enterprises, signaling strong momentum for the region's manufacturing and service sectors alike.