中美对弈下产业链的忧与解

Group 1 - The report highlights the complex interconnection between the Chinese and American industrial chains, emphasizing that changes in US-China relations will significantly impact domestic industries. Key sectors affected include consumer electronics, light manufacturing, automotive parts, plastics, and power equipment, which have substantial exposure to the US market [5][6][18] - The technology sector is dominated by the US, which controls core elements such as R&D, design, and branding, while China excels in component production and assembly, particularly in areas like panels and camera modules. The report notes that the real risk for the consumer electronics industry lies in the potential enforcement of high tariffs on Chinese electronic products by the US [5][40] - The automotive industry has seen China rise to become the world's largest car exporter in 2023, although exports to the US are limited, with complete vehicles accounting for only 2.18% of total exports and parts making up 10.44%. The report indicates that Chinese automotive companies are mitigating tariff pressures by establishing overseas production capacities [5][53][59] Group 2 - The report discusses the significant impact of US-China relations on the global supply chain, particularly in technology and automotive sectors. It emphasizes that China is enhancing its resilience against potential trade barriers through industrial upgrades, overseas capacity expansion, and the establishment of smart factories [5][62] - In the electronics sector, the report identifies high exposure to the US market, with significant percentages of exports in smartphones (22.7%) and computers (27.4%). The report suggests that companies with strong global competitiveness and pricing power are better positioned to withstand potential impacts from US tariffs [5][18][20] - The automotive supply chain is characterized by a growing focus on smart and autonomous vehicles, driven by advancements in AI and 5G technology. The report notes that Chinese automotive parts manufacturers are accelerating their global expansion to navigate trade barriers and tariff pressures [5][55][62]