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The China Association of Automobile Manufacturers (CAAM for short as below) has finalized the 11th Five-Year Program for the country"s auto parts industry. According to the program, the auto parts industry is expected to realize 1.2 trillion Yuan (US$154.42 billion) in gross industrial output value by 2010. That includes 630 billion Yuan in output value for the original equipment manufacturer (OEM) market, 170 billion Yuan in the auto aftermarket and 400 billion yuan from exports.
The program highlights self-brands for technological innovation. Efforts will be focused on the improvement of core technologies in engines, transmissions and auto electronics. By the year 2010, spending on research and development is expected to account for 30 percent of total sales. Key products listed in the program include: Euro IV emission standard engines; hybrid auto parts; direct gasoline injection systems; diesel engine particle purification systems; exhaust gas recycling systems; continuous variable transmissions, automatic manual transmissions, automatic transmissions and double clutch transmissions; low-floor bus chassis.