The Chinese First Automobile Group Corporation (China FAW) held a grand meeting entitled “Keeping in Mind Our Mission, Focusing on Innovation, Strengthening the Nation, and Pioneering Boldly: China FAW’s 70th Anniversary Celebration” at China FAW’s Red Flag (Hong Qi) Conference Hall, celebrating its 70th anniversary. The event was graced by guests including numerous government leaders from various levels and representatives from both domestic and international automobile enterprises. At this important juncture, China FAW’s developments are highly valued by governments at all levels.
Over the past 70 years, China FAW has consistently promoted the development of the Chinese automotive industry, whether it is in manufacturing or establishing China’s initial automotive industrial base, it has left a unique imprint on the history of China’s automotive development.
Qiu Xiandong, Deputy Party Secretary, Director, and General Manager of China FAW revealed that China FAW’s cumulative production and sales total reached 55.77 million vehicles, with a near revenue of 830,000 billion yuan, total tax and profit exceeding 18,700 billion yuan, and total assets surpassing 600 billion yuan. The “China FAW” brand value exceeded 420 billion yuan, with both “Jie Fang” and “Red Flag (Hong Qi)” brand value each exceeding 110 billion yuan, forming a globally recognized top 100 state-owned automotive corporation.
The development of China FAW (Hong Qi) could not have been possible without the steadfast leadership of the Central Party, the unequivocal support of the upper-level authorities and local party committees, the efforts of generations of FAW personnel, and the trust and support of our vast user base. General Manager Qiu XianDong stated that the firm persistently strives to “Master key core technologies, establish national automobile brands, and build world-class enterprises.”
Over 70 years since its founding, China FAW has become a vital part of a modern industrial system supported by a real economy, through a series of significant milestones. During this anniversary celebration, China FAW announced that the 55.77 millionth vehicle had rolled off the production line, further securing its leadership position in terms of production and sales scale.
Looking towards the future, China FAW vows to act as the epochal pioneer in constructing a modern automotive powerhouse under the guidance of the Party and the State. We aim to drive high-quality development of the automotive industry, empower the comprehensive modernization of China, and strive to create a world-class automotive enterprise.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.