Changshu aims to grow auto industry
As China’s auto market continues to rapidly expand, local governments are putting in place plans and policies to attract auto-related business. Having already convinced Toyota to set up its China R&D base there, Changshu of Jiangsu province is trying to leverage that and draw suppliers.
“The Yangtze Delta region houses 60 percent of China’s auto suppliers and 90 percent of the mold and equipment manufacturers. Changshu is strategically located in the center of the Yangtze River delta with highway, river transportation and seaport,” a Toyota official was quoted as saying.
Toyota established the wholly owned Toyota Motor Engineering & Manufacturing (China) in November to focus on developing vehicles that meet the needs and wants of Chinese consumers. The company expects to eventually grow the R&D staff there to 1,000, according to a recent Nikkei Business report.
Changshu officials pledge to provide “the best business environment and living environment” to business, particularly small and midsized ones.
Electronic components maker Bi Technologies is in the process of building a plant in Changshu. It is crucial for small and midsized companies to choose the right industrial cluster with the right mix of companies for an overseas site, an official commented.