Automobile is the first pillar industry in Guangzhou, and also one of the three vehicle manufacturing base in China. Therefore, Guangzhou is attempting to fund auto parts industry. Recently, Guangzhou government has passed the implementation plan in the executive meeting for building Guangzhou as the international auto parts industrial base. The government will fund 2.5 billion to build five new industrial parks in Panyu, Zengcheng, Huadu, Nansha and Conghua on the basis of current status, specially target for building auto parts manufacturing and exporting base, national auto parts cluster of new energy cars and intelligent cars.
The plan expects the production value to increase by 200 billion in 2020, and localize key parts to 80%. As for new auto parts companies, the government will provide a fund maximum 50 million. Apart from the above five industrial parks, Zhaoqing and Meizhou are also selected to develop traditional auto parts industry.
The government reveals that more than 10 billion development funding will be set up to support the development of self-branded automobiles, new energy and internet intelligent automobiles.
With the background in 2015, Guangzhou automobile production value reached 377.679 billion, among which auto parts was 99.446 billion, taking up 26.3% of the total industry.