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Firms merged to form car giant

THE mainland's first car group, a leading car producer in the country, has turned into the largest light vehicle base by annexing seven enterprises in northeast China.

After annexing four enterprises in Jilin province and two in Heilongjiang, the group has become the biggest stockholder of the Jinbei Auto Co in Liaoning, said Xinhua (the New China News Agency). With an overall technical upgrading of the annexed enterprises, the group now has annual production of 150,000 light vehicles.

The China Machinery and Electronic Daily said there were 71 enterprises specialising in light vehicle making in the country, while the total yearly output was only 540,000.

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