Auto industry, which is a key part of the Qingdao real economy, constantly expands its production and enhances its innovation ability after many years’ development. The total annual production value currently approaches CNY 90 billion, accounting for nearly 5% of that generated by all industries of Qingdao. In 2017, the Qingdao auto industry will continue to expand its production value, which is expected to exceed CNY 100 billion.

    In recent years, Qingdao each year added 2 registered auto companies; the total number now is 24. 4 are whole vehicle companies, including the FAW Qingdao Company, Sinotruk Qingdao heavy industry company, SGMW Qingdao company, and BAIC BJEV Qingdao company. The city has over 20 modified vehicle companies, including the Qingte group and CIMC special vehicle company. The city also has 188 mid-and-large auto parts companies, including key companies such as Qingdao Haitong machinery group, WABCO, Federal Mogul and Huarui. Qingdao thus has an industry cluster in fast growth that is led by whole vehicle companies and supported by auto parts companies.

    The statistics show in 2016, Qingdao has achieved CNY 89.16 billion total industry production value, a year-on-year growth of 12.8%, accounting for 4.9% of the total industry production value of mid-and-large companies of Qingdao. The city has produced 647,000 vehicles, a year-on-year growth of 8.0%. (Lin Gang)