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China spare parts industry can be described as loosen, chaos and bad. Spare part industry matters the whole auto industry, and we should hold on foundational construction of spare parts. So what is the difference between domestic spare parts industry and counterparts in foreign countries? Li Dakai, CEO of Shanxi FAST Auto Transmission Group expressed his idea on this issue.
Li Dakai, CEO of Shanxi FAST Auto Transmission Group
He said that since China is a fast-developing country and China auto industry has only developed for fifty years. Domestic parts manufacturers made great efforts to achieve such results today. FAST spent more than forty years to form such a group valuing seven billion yuan.
Current situation of China auto parts are due to short development period and small investment. And we believe there will be great changes in the near future. Since central government realized that strong auto industry needs advanced auto parts industry.
He deemed that we need more investments in auto spare parts industry to boost its development, such as favorable taxation. Such measures to vital spare parts manufacturers can save money and time on research and development. Apart from taxation, we need more support on talents introduction and equipment import, for this can quicken our pace to catch up with foreign spare parts companies. Currently funds are rather important for us and we need more investment to do this.