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State-Owned Enterprise FAW Group Exposed for Years of Corruption, May Face Restructuring | FAW's Predicament | State-Owned Enterprise Restructuring
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FAW Group, once the cradle of China's automobile industry and a state-owned enterprise, has faced slow development and operational difficulties due to its significant lag in adopting high technology and upgrading its vehicles amidst increasingly fierce competition within the industry. The Changchun Municipal Government recently warned in its automobile industry development plan that FAW urgently needs to modernize itself, otherwise it may face s…
·New York, United States
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