Legal Ownership
Sometime before the 1980s, Nanjing Auto was under the joint jurisdiction of both the central and local governments. As of 2003, this vehicle manufacturer was owned by Yuejin Automobile Group of Jiangsu, which held just over fifty-percent ownership of the company at this time, and two State firms created to dispose of non-performing bank loans, China Huarong Asset Management Co and China Cinda Asset Management Co. Nanjing Auto is now a subsidiary of SAIC, having been merged with the much-larger automaker in 2007.
Read more about this topic: Nanjing Automobile
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