Chongqing Daily News recently, the huge Qimao Group Co., Ltd. Mr. Pang Qinghua, chairman and managing director of with Mr. Fuji Heavy Industries Ltd. of Japan on behalf of the president of the Board of Directors of Jiyong Tai, officially signed the contract of the joint venture the Subaru automobile (China) Co., Ltd.. Large group in 2004 to become one of the agents of the Subaru car in China began to establish production and marketing relationship with Fuji Heavy Industries, the past few years sincere cooperation and common development, and work together to create a multiple Subaru brilliant performance in China. The large group of Fuji Heavy Industries joint venture Subaru project in China, is once again on the cooperation between the sublimation and improve, the powerful combination of complementary advantages, will open a new Subaru. . According to the contract, in May this year, the establishment of a new joint venture company, new company officially began operations in July this year began on October 1, the direct management of all Subaru store by the new joint venture, Subaru Motor (China) Co., Ltd., the country's sales the service management system will be a high degree of unity. It is reported that the original Fuji Heavy wholly-owned Subaru Motor (China) Co., Ltd. was changed to Sino-foreign joint venture company with a registered capital of 2.95 billion yen, a total investment of 90 billion yen, which funded 40% of the large group, invested 60% of Fuji Heavy Industries, the Board of 6 members name, Fuji Heavy Industries accounted for 4, two large group.