The Motor Parts Manufacturing Industry Is Highly Supported By The State

- Oct 12, 2018-

In recent years, China has successively issued a number of policies to support and encourage the development of motor-related application industries, and increased support for motor-related application industries.

On May 21, 2004, the "Automobile Industry Development Policy" promulgated by the National Development and Reform Commission put forward: to promote the production of specialized, high-volume production and modular supply of parts and components enterprises with comparative advantages. For parts manufacturing enterprises that can support multiple independent automobile manufacturers and enter the international auto parts procurement system, the state gives priority support in technology introduction, technological transformation, financing and mergers and acquisitions.

On June 28, 2006, the "Several Opinions of the State Council on Accelerating the Revitalization of Equipment Manufacturing Industry" pointed out that the equipment manufacturing industry is a basic industry that provides technical equipment for national economic development and national defense construction. It is necessary to optimize the equipment manufacturing industry and industrial structure, vigorously improve the ability of independent innovation, promote the independent manufacturing of major technical equipment, increase policy support and guidance, and achieve major breakthroughs in key areas.

On May 12, 2009, the “Equipment Manufacturing Industry Adjustment and Revitalization Plan” adopted by the State Council proposed four major tasks for industrial restructuring and revitalization, and clarified relevant policy support measures. Among them, the new energy vehicle power module is listed as one of the key components in the automotive industry to implement equipment autonomy.

On June 3, 2010, the Ministry of Commerce, the Ministry of Finance, and the Ministry of Environmental Protection issued the "Letter on Printing and Distributing the Workplace for the Replacement of Home Appliances", gradually expanding the scope of implementation of home appliance replacement to the whole country, and refrigerators (including freezers) are still included in home appliances to the countryside. The scope of promotion is to directly subsidize farmers' consumers by purchasing subsidies for home appliances to the countryside to implement subsidies for home appliances to the countryside. The policy will be implemented in 14 provinces and cities for 4 years, and the above-mentioned household appliances will be subsidized at 13% of the sales price. The introduction of the above-mentioned series of policies is conducive to the rapid growth of the company's downstream industries.

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