Many indicators indicate that China's auto market is experiencing explosive demand. However, attentive people will find that few indicators can be compared with the speed of foreign capital infiltration in China. At a seminar held recently, relevant experts pointed out that while the Chinese auto market is booming, the rate of entry of foreign-funded spare parts companies into China is also growing at an unprecedented rate. Especially this year, the number of foreign-funded joint-venture parts and accessories companies is growing at almost the same rate. Doubled last year.
On September 1 this year, Visteon, a world-renowned auto parts supplier, announced in Yokohama, Japan that its Asia Pacific headquarters had been relocated to Shanghai, China. Visteon stated that the move was mainly focused on improving its ability to support customer service in the region; Japan’s Denso, ranked fourth in the world’s auto parts industry, announced that “Tianjin Foo Electric Installation Air Conditioningâ€, which is cooperating with Fu Ao, a parts and components division of China FAW Group, has been established in Tianjin and will be put into production in February 2005. Production of automotive air-conditioning, so far the company's production base in China has reached 9.
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