China Changan Automobile Group was established in Chongqing on 27 July, becoming the third central SOE in the auto industry. Its legal representative is Zhu Huarong, with a registered capital of RMB20 billion, 117 subsidiaries and total assets of RMB308.7 billion.The three major central state-owned auto groups will be able to better assist in the high-quality development of the intelligent connected new energy vehicle industry, and accelerate the development of world-class brands with global competitiveness, a relevant official from the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council said.Related NewsApple Dalian Store to Close as Firms Cites Withdrawal of Multiple Retailers from Mall