Gasgoo.com (Shanghai July 4) - FAW Group's request to restructure its stock ownership system has gained official approval from the State-owned Assets Supervision and Administration Commission, China Business News quoted FAW Xiali as announcing. According to the new restructuring, FAW Group, as well as its subsidiaries, will establish a new holding company.
FAW Xiali and FAW Car's stocks, which are currently under the FAW Group name, will transfer over to the new company, which is still a state-owned asset.
As far as domestic manufacturers are concerned, FAW Group's sales are only behind SAIC's and Dongfeng's. Therefore, the topic of restructuring has been of special concern to the government and other parties.
