GAF2014 Press Release Two
At the opening plenary of the 5th Global Automotive Forum on Oct 16, major domestic auto group executives and other participants discussed the most relevant issues and challenges facing the automotive industry today. Key topics discussed were: guidelines for transformation; rebuilding enterprise relationships and improving supply chain efficiency among the OEM’s and auto suppliers, regulatory and policy issues facing the industry, the importance of green manufacturing, remanufacturing and energy conservation, adjustment to the China strategies of global assemblers, addressing structural issues and overcapacity, etc.
Zhu Fushou: "Matthew Effect" will become the new normal in the development of the automotive industry.
The transformation and upgrading of the automotive industry, said Zhu Fushou, General Manager of Dongfeng Motor Corporation, is affected by the domestic environment. The automotive industry in China is showing a new normal in its development and the main features are: a. a micro-growth state, b.the function of resources allocation in the market and the "Matthew Effect" more prominent, c. facing a variety of challenges, d. cross-field integration, e. the extension of the value chain.
GAF2014 Press Release One
The 5th Annual Meeting of Global Automotive Forum began today in Wuhan, China. The topic this year is “Vision for the Transformation of China’s Automotive Industry”. The backdrop for the discussion is the global economic environment and the ever changing challenges in the automotive industry worldwide. The forum provides a platform for industry leaders, experts, financiers, analysts and media to share their opinions and knowledge to better anticipate the development of China’s automotive industry.
Wang Ruixiang: Transforming the focus from volume production to quality production is critical.
As a pillar industry in China, the current output value of the automotive industry contributes 6 trillion RMB each year to the national economy, the production and sales volume ranked first among the world. China accounts for about a quarter of the world’s automotive market making it a veritable automobile manufacturing and selling power.
Wang Ruixiang, Chairman of China Machinery Industry Federation, remarked: