Abstract
The competition of contemporary automotive market has evolved from competition between enterprises to competition between industry value chain(IVC). Based on the theory of IVC, this paper explains the relationship between extension of value chain and enhancing competition of China's automotive industry. Through analysis of developmental mode of US and Japan's automotive industry, propose the strategic mode of value chain extension, which also is the mode of industrial and financial capital combination, to promote competitive power of China's automotive industry value chain. This mode will make China's automotive industry develop rapidly, but it will give rise to very high risk. Finally, this paper gives corresponding control and governance measures by analysis of risk factors.
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