· Hunan has achieved a 50% target for auto parts in the province within two years

In January 2014, the Hunan Provincial Government issued the “Several Policy Measures for Accelerating the Development of the Auto Parts Industry” (Xiang Zheng Ban Fa [2014] No. 9). This is another important policy move proposed by Hunan to promote the coordinated development of auto parts and vehicle industry following the “Several Policy Opinions on Supporting the Development of the Automobile Industry” (Xiang Zhengfa [2007] No. 13).

The measures are proposed to reach 50% of the auto parts industry in the province by 2015, and the total output value of the auto parts industry will reach 90 billion yuan; develop auto parts industry clusters; support auto parts enterprises through tax reduction and fund support, Accelerate the promotion of the auto parts industry upgrade, enterprises become bigger and stronger, and support vehicle manufacturers to build their own supporting systems by introducing and utilizing the existing production capacity of Hunan's existing parts and components.

The "Policy Measures" clearly stated: First, in response to the problem that the current development of parts and components lags behind the entire vehicle, six measures are proposed. Second, in view of the difficulties in financing and the shortage of skilled workers, three measures were proposed to increase financial support, expand financing channels, and strengthen practical personnel training. Thirdly, in response to the problem that the development environment is still not excellent, three measures have been proposed to increase intellectual property protection, strengthen service awareness, and strengthen industry guidance.

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