Chinese companies play bigger role in global auto supply chain

Chinese auto suppliers are becoming increasingly important as the industry is shifting towards electrification and connectivity, according to a report released on Thursday.

A total of 14 Chinese companies made into the list of the world's top 100 automotive suppliers in 2021.

Of them, Weichai ranked No 4, the only Chinese company in the top 5. Other Chinese suppliers on the top 100 list included Yuchai, Fuyao and CATL.

The report was released by the China Automotive News and consulting firm Roland Berger.

It was compiled on statistics from Berylls Strategy Advisors of around 300 suppliers, including their financial performance, research and development as well as human resources.

Yuan Wenbo, a Roland Berger partner, said major highlights of Chinese companies are electrification, as well as light-weighted and software-related business.

The report shows that Chinese auto suppliers' net profit in 2021 were up 18 percent from 2020.

Xin Ning, president of the China Automotive News, said Chinese suppliers are becoming stronger over the past years.

"One of the core advantages is the size of the Chinese car market and its huge potential," said Xin.

The China Association of Automobile Manufacturers estimates that vehicle sales will reach 27 million this year, up 3 percent from 2021.