It is becoming a global trend for auto parts manufacturers to separate from vehicle enterprises and form specialized parts groups. Almost all of the internationally renowned automobile and parts enterprises have established joint ventures or wholly-owned enterprises in China, and more than 1,000 technology joint ventures have been introduced. A number of domestic automobile and parts enterprises with high scientific and technological content, good efficiency and large scale have gradually grown. As the international automotive industry begins to implement the "global procurement" strategy of parts and the localization strategy of international multinational automobile enterprises, there will be a huge gap in parts and accessories in the domestic market. By 2010, the domestic output value of China's auto parts will reach about 700 billion yuan. The production prospects are broad and the appreciation space is huge.