The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) announced on July 29 the inauguration of China Changan Automobile Group Co., Ltd. （Changan） as a central state-owned enterprise (SOE).
The company’s inaugural meeting was held on the same day in Chongqing, marking the official launch of the city’s first central SOE headquarters.
Formed through the restructuring of China South Industries Group Corporation, the new enterprise oversees 117 subsidiaries and branch companies. Its core businesses include automobiles and auto components, automobile sales, motorcycles, financial and logistics services.
It will focus on cultivating new quality productive forces such as intelligent vehicle robots and embodied AI. It is also expected to accelerate a global expansion, targeting markets such as Southeast Asia, the Middle East, Europe, and Central and South America.
According to the SASAC website, following this latest reform, the total number of central SOEs under SASAC supervision now stands at 100. Changan is listed as No. 73 in the central SOE directory.
After the latest restructure, China has three major central SOE automobile groups, namely the FAW Group, Dongfeng Motor Corporation, and Changan. They are expected to play a significant role in advancing the high-quality development of the intelligent and connected new energy vehicle industry and accelerating the growth of globally competitive, world-class auto brands.
(Executive editor: Yuan Ting)
