Although a trend of slight growth or even negative growth had been found in China's auto market since 2019, more and more overseas auto parts enterprises selected to invest in China due to its market potential, huge market base, increasing economic strength, and scientific and technological level, etc. Some auto parts enterprises such as Bosch, Japan Denso Corporation, ZF Friedrichshafen AG and Faurecia have invested in China to build up new factories, and some enterprises such as Continental AG and BASF SE have set up R&D centers in China to further enhance their local R&D and innovation capabilities, thus strengthening closer cooperation with customers to meet the needs of developing China's auto market in future.