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FAW denies departure of Chairman Xu Liuping
Automotive News China | 2018/2/27

China FAW Group Corp. is denying media reports that its chairman, Xu Liuping, will leave the company to take a post at a Chinese ministry.

Rumors circulated last week in Internet chat rooms about Xu¡¯s departure for the Ministry of Industry and Information Technology, which regulates automotive, information technology and other industrial sectors in China. 

The rumors were quickly picked up by a large number of business websites in China, including Sina.com and Netease.com. 

¡°This kind of media reports are far from the truth,¡± FAW, a major state-owned automaker, said in a statement on Friday. It demanded media outlets spreading the rumor correct the ¡°irresponsible¡± reports while reserving the right to take legal action against them.

Xu, 54, was appointed FAW¡¯s chairman in August by the central Chinese government. He was previously chairman of another major state-owned automaker, China Changan Automobile Group Co.

Shortly after arriving at FAW, Xu pledged to revitalize the company¡¯s ailing light-vehicle business in three to five years. 

He has reshuffled management, streamlined its bloated product lineup and renewed efforts to bolster its limousine brand, Hongqi. 

FAW, established in the northeast China city of Changchun in 1956, is a commercial truck producer with a smaller light-vehicle unit. It also runs passenger vehicle joint ventures with the Volkswagen Group, Toyota Motor Corp. and Mazda Motor Corp. 

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