China FAW Group Corporation (short for FAW) is a state-owned super large automobile enterprise group which managed by China central government. The Group laid the foundation in 1953 and put into operation in 1956, which creates the history of new China’s automobile industry from scratch. After 68 years of development, 5 production foundations were established in the northeast, north, east, south and the southwest of China. FAW has independent brands of Hongqi, Jiefang and Bestune, and joint venture brands of Volkswagen (Audi) and Toyota, etc. The accumulated production and sales of automobile are both over 49 million units. The annual production and sales maintain in the top positions in automobile industry of China. By August 2021, total work force of FAW has reached 130,000 people, and total assets has achieved 589.8 billion RMB. FAW has been rewarded Level A in operation performance assessment of state-owned enterprise principals by the State-Owned Assets Supervision and Administration Commission for 13 years and has taken the 66th place on the Fortune Global 500 list.

In 2020, FAW delivered 3.706 million vehicles to customers, up 7.1% year on year. Group sales revenue totaled RMB 697 billion RMB, up 12.9% year on year, which made FAW Group the only automobile enterprise group achieving comprehensive growth of sales, revenue and profit. Taking three big steps in the 3 years, Hongqi realized sales of about 200,000 units in 2020, up 100% year on year, 42 times in 3 years.

In 2021, FAW insists to follow the guidance of Xi Jinping’s thought on socialism with Chinese characteristics for the new era, earnestly implements the guiding principles of the General Secretary Xi Jinping’s important speech during his inspection of FAW, strives to achieve high-quality leaping growth of independent brands, high profitable transformational growth of joint venter brands, risk-control and creative growth of new business. Vehicle sales is planned to achieve over 4 million units, up 7.9% year on year. From January to June, the vehicle sales realized 1.96 million units, up 20.4% year on year, continuing to keep the development trend of “the landscape is beyond compare”.