In recent years, benefiting from multiple favorable factors such as the sustained growth of the domestic economy, the rapid development of the vehicle market, the support of national industrial policies, and the increase in global parts procurement, my country's auto parts industry has been able to develop rapidly. Not only have domestic auto parts companies continued to increase investment and carry out technological upgrades, but multinational parts suppliers have also established joint ventures or wholly-owned companies in China, driving the rapid development of my country's auto parts industry as a whole.