BAIC seeks to be publicly listed by 2013

Gasgoo.com (Shanghai May 2) - BAIC Group is aiming to be publicly listed by next year, the Beijing Morning Post reported today, citing statements made by the manufacturer at the ongoing Beijing International Automotive Exhibition. According to those statements, BAIC will announce a detailed plan by the end of this year at very latest.

In 2010, BAIC announced its desire to be publicly listed within two to three years. Today's news seems to signify that everything is going according to schedule, with President Han Yonggui confirming that the manufacturer's goals have not changed. "If done quickly, [the plan will be implemented by] the end of this year, if slowly, the issue will be resolved by 2013," Mr. Han was quoted as saying. Whether or not BAIC will gain the government's approval depends on if it can satisfy specific requirements. "With the help of consulting firms, we are currently working on a more complete proposal," Mr. Han said. He added that whichever method would help BAIC gain certification and get listed as soon as possible is of key importance to the proposal's final draft.

BAIC currently possesses four subsidiary automobile and machine enterprises, including Beijing Automobile Works and Beiqi Foton. It is possible that BAIC might register its subsidiaries individually in order to gain official approval to be listed.