Changchun, the capital of Northeast China's Jilin Province, is speeding up efforts to build a comprehensive auto industrial park.
An inauguration ceremony, marking the beginning of the construction of the Everpower Automotive Industrial Park, kicked off recently in the Changchun Economic and Technological Development Zone.
Officials from the Changchun municipal government and Jilin provincial government, executives from local auto and component makers and financial institutes, and representatives from auto industrial associations, attended the event.
The auto park is expected to sharpen the competitive edge of Changchun, a famous auto city in China.
With a total investment of US$300 million, the auto park will cover a land area of 690,000 square metres, focusing on manufacturing special-purpose vehicles and truck chassis.
Pursuing state-of-the-art technologies, the park will co-operate with a number of well-known automakers from home and abroad, such as the First Automobile Works, China National Heavy-Duty Truck Group Co Ltd, and Kyokuto Kaihatsu Kogyo Co Ltd from Japan.
A variety of vehicles including tankers, vans and tippers will be manufactured there. These vehicles are widely used in sanitation and transportation of mail and food.
In addition, a number of companies listed in the Global Fortune 500, which are involved in auto component manufacturing, will also invest in their operations in the park.
With manufacturing costs rising dramatically, recent years have seen a slowdown in the auto market growth rate in developed economies.
Some of the large component manufacturers were shut down due to mounting costs, and some even went bankrupt.
In contrast, China's auto and component manufacturing industries are making substantial progress, as global auto manufacturers speed up shifting their operations to China.
Experts estimate that China's auto industry will embrace a new round of high-speed growth in the near future and become a centre of global auto manufacturing.
Inspired by these prospects, the Everpower Automotive Industrial Park is ambitious to build itself into an auto research, manufacturing and export base.
When the auto park opens, a comparative complete auto industrial chain will take basic shape there.
High value-added special-purpose vehicles will be one of the highlighted product lines in the park.
Technological frontiers covering internal high-pressure forming will be a focus for the auto park companies.
Besides satisfying domestic market demand, the companies in the park will also explore business opportunities in overseas markets, seeking to expand their market shares in North America, Europe, Southeast Asia and the Middle East.
Source: China Daily