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DFM becoming member of Council of France-China Entrepreneurs

Date:2018-01-13

On January 9, Council of France-China Entrepreneurs was established in Beijing, and held its first conference. President of China XI Jinping and president of France Macron jointly witnessed the signature of Memorandum of Understanding on establishing Council of France-China Entrepreneurs, and interviewed the entrepreneur representatives of Council of France-China Entrepreneurs.

As the enterprise representative of Chinese automobile industry, Dongfeng Motor Group Co., LTD. (DFG) is one of 15 members of Chinese Board of Directors of Council of France-China Entrepreneurs, as well as only one Chinese automobile enterprise in Council of France-China Entrepreneurs. ZHU Yanfeng, president  of DFM also attended the first conference of Council of France-China Entrepreneurs, and made a speech.

Council of France-China Entrepreneurs is officially guided by Ministry of Commerce of the P.R.C. and Ministry of Economy and Finance of France. Council of France-China Entrepreneurs sets up a board of directors, consisting of respectively 15 enterprise representatives, responsible for developing the Articles of Association and annual action plan. Council of France-China Entrepreneurs aims at building a new platform for the enterprise circles of China and France, building a long-term, institutional dialogue mechanism for the business leaders of China and France, and promoting upgrading of France-China economy and trade cooperation through pragmatic suggestions and cooperation. All the enterprise representatives come from France-China leading enterprises, covering such sectors as advanced manufacturing, agriculture and foods, bio-pharmaceutical, financial service, etc., which highlights the cooperative demonstration role in France-China traditional sectors, such as nuclear energy, aviation, automobile, etc., and also displays the cooperation potential in new sectors such as financial service, cross-border e-commerce, energy conservation and environmental protection, etc.

For a long time, under the background of France-China friendship, DFM has made a great progress in the joint venture and cooperation with French enterprises. Dongfeng Peugeot Citroen Automobile Company Ltd. was established by DFM and France PSA Group on May 18, 1992, and is one of China’s first three passenger vehicle manufacturing industry s planned and built by economic scale. Currently, Dongfeng Peugeot Citroen Automobile Company Ltd.’s Wuhan and Chengdu have annual production capacity of 840,000 vehicles. On March 26, 2014, DFM purchased the shares of PSA Group with nearly 800 million Euros, up to 14.1% of stock’s proportion, being the PSA Group’s the first majority shareholder with the same shares as that of French Government and the Peugeot family. Dongfeng Renault Automobile Company Ltd. is a joint venture d on Sanjiang Renault Automobile Company Ltd. and reconstructed by DFM and French Renault Group. Dongfeng Renault was put into production in the first half of 2016, and sold 72,188 vehicles in 2017. In August 2017, Renault-Nissan Alliance and DFG announced to establish a new joint venture - eGT New Energy Automotive Co., Ltd., for the purpose of jointly developing and selling the electric vehicles. Dongfeng Hongtai Holdings Group Co., Ltd. affiliated to DFM and Faurecia (French parts company) jointly established Dongfeng Faurecia Automotive Interiors Company Ltd. and Dongfeng Faurecia Automotive Exteriors Company Ltd., which were put into operation on July 1, 2015.

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