TOKYO -- Chinese authorities have approved a carve-out of the automobile business of China South Industries Group, a core state-owned equipment supplier to the People's Liberation Army.
Automobiles
Changan Auto business carved out from key PLA supplier
China state company reshuffle follows Xi order to build 'powerful auto state'
A car made by the Changan group is displayed in Shanghai in April. The automaker has joined the ranks of China's "central companies," a group of strategic state-owned conglomerates.
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