Shanghai September 20^th, 2017 ZXZC-FAW Group held a mobilization meeting for deepening reform on September 18^thto conduct major reforms on organization and personnel structures. It is announced after the meeting that Liu Yigong would replace Zhang Pijie as General Manager of FAW Volkswagen. Hu Yong, former General Manager of FAW Cars, would be appointed as Minister of Strategic Management Department of FAW Group. It’s known that all candidates will be on position in three days.

Besides, FAW Group also rearranges its subsidiary businesses including self-independent brands, joint-venture businesses and financial segments. Headquarters of FAW Group will operate the whole value chain of Hongqi brand to control other brands and businesses.

Hongqi brand is targeted as “the first brand burdening the largest sales volume among high-level self-independent brands”, while Jiefang brand will become “the first brand burdening the largest sales volume among self-independent commercial brands”. Besturn brand will become a first-class brand among the top 5 domestic self-independent brands. Its joint-venture company wills also becoming a leading company among domestic companies.

It’s predicted that the reform with principle of fairness, competition and marketization will stimulate vigor from staff and enhance efficiency.