Witnessed by Wang Dongming, Secretary of Sichuan Provincial Committee, Wei Hong, Governor of Sichuan Province, Xu Ping, Chairman of FAW Group, and Xu Xianping, President of FAW Group, China FAW Group Corporation signed a Strategic Cooperated Agreement with Chengdu Government on Aug 28.

The signed agreement will promote the transformation and upgrade of Chengdu’s automotive industries, and further expanding FAW’s developing space in Southwest China, Southeast Asia, Central Asia and Europe.

FAW Group has invested more than 40 billion yuan in Chengdu these years. Supported by local government, FAW’s Chengdu facilities including Chengdu Branch of FAW-Volkswagen, Sichuan FAW Toyota Motor Co. Ltd, Chengdu Plant of FAW Bus, and Chengdu Plant of FAW Jiefang effectively boosted development of the local automotive component enterprises and other relevant local industries. In 2014, Chengdu base sold 750,000 completed vehicles, together with output value of 80 billion yuan and contributed tax of 10 billion yuan. Now FAW Chengdu base owns employees more than 20,000.

FAW Group is a leading global manufacturer of quality passenger cars, commercial trucks, and buses. Established in 1953, the company is China’s oldest and largest automotive group. Annual sales exceed two million units.