China Changan Automobile Group Co., Ltd was established as a state-owned enterprise (SOE) under the central government on Tuesday in Chongqing Municipality, where its headquarters is located, with the aim of boosting the competitiveness of China's automotive industry.
The automaker, spun off from China South Industries Group Corporation, operates 117 subsidiaries focusing on complete vehicle and auto parts manufacturing, auto sales, financial and logistics services, and motorcycle production.
According to a senior executive of the automaker, the company will prioritize developing new quality productive forces such as automotive robots, flying cars, and embodied AI, while accelerating expansion into markets including Southeast Asia, Central and East Africa, Central and South America, Eurasia, and Europe.
This reorganization marks a critical step in China's SOE reform and optimization of state capital allocation, while also serving as a strategic move to enhance the competitiveness of China's automotive sector.
Chinese carmaker Changan established as central SOE in Chongqing
Iranian President Masoud Pezeshkian said on Thursday that his country will never shy away from dialogue with the United States.
"We have never shied away from talks, and we never will, although the United States has targeted our country three times despite having signed an agreement," the semi-official Tasnim News Agency quoted him as saying.
He criticized the U.S. for not seeking talks with Iran, saying Tehran is weighing Washington's response to its latest proposal.
Iran said a day earlier it had received a formal U.S. reply to its proposal on reopening the Strait of Hormuz.
U.S. media reported Thursday that U.S. President Donald Trump said Washington may ramp up military strikes against Iran after November's midterm elections.
A day earlier, Trump told reporters military action could come if no deal is reached with Iran, adding the time for a decision is drawing near.
The U.S. and Iran held a new round of indirect talks in New York on Monday. U.S. media said negotiations hit an impasse as neither side was willing to make concessions. Iranian Foreign Minister Abbas Araghchi has returned to Tehran from New York.
Earlier, Araghchi announced at a news conference at the UN headquarters in New York on Sept. 25 that Iran had relayed conditions for reopening the Strait of Hormuz and advancing negotiations to Washington via Qatar.
According to U.S. media reports, Iran has proposed reopening the Strait of Hormuz within seven days if the U.S. lifts its naval blockade, lifts oil sales sanctions, and restores a regional ceasefire. Trump said on Sept. 26 he had rejected the proposal.
Iran not to shy away from dialogue with U.S.: Iranian President
