Now China Auto Market Has Become A Booming Land For

Now China Auto Market Has Become A Booming Land For Many Iron And Steel Enterprises To Invest

On June 4th, the ground-breaking ceremony of Yantai Baogang Wheel Company was held in the Industrial Park of Yantai Auto Parts in Shandong, the investment of the first phase is 140 million yuan and the wheels annual output will be 1.25 million, which will eventually form the capacity of producing steel wheels that used for 3 million passenger cars and 500 thousand commercial vehicles.

On June 21st, the State-owned Assets Car Parts Supervision and Administration Commission of the State Council of Hebei Province entrusted Hebei Iron and Steel Group with 100% of the state-owned packing machine stock share of Xuangong Machinery, which was held by Hebei State-owned Assets Holding Operation Co., Ltd, and it is China’s major slitting machine manufacture enterprise in the construction machinery industry.

The shock absorber factory of Beijing Steel’s Jingxi Heavy Industry Co., Ltd was completed in Fang Shan base and began to install the equipment on June 27th, in the first engineering machiney phase the investment is 2 billion yuan and there will be 4 million shock absorbers produced a year. This plant Blow molding machine will supply the shock absorbers to Geely, Beijing Foton and other domestic automobile manufacturers.

At the same time, Wuhan Iron and Steel Corporation also announced to enter into auto parts construction machiney industry, and it will build a auto parts production base joint with Chery Automobile, which machines is expected to put into production in 2011.

Investors machine are far more than domestic iron and steel enterprises.

On May Japan Steel Shoji Co., Ltd, a trading comany under Japan Steel Corporation, prepared actively to enter into China’s auto parts market, and 1.5 billion yen is prepared to invest in Shanghai for processing auto parts.

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