FAW’s overseas JV investment firm

Leading Chinese vehicle manufacturer FAW Group, along with five other corporations including China CITIC Bank, have signed an agreement to jointly establish an overseas investment company.

The agreement was signed at the China-Northeast Asia Expo that closed Tuesday in Changchun, capital of Northeast China's Jilin Province.

Qiu Xiandong, deputy general manager of FAW, said that the new company will support domestic companies making strategic long-term investment in countries and regions along the route of the "Belt and Road" initiative, the Xinhua News Agency reported Thursday.

FAW will further develop automobile services and financing along the route to strengthen the group's whole industrial chain advantage in the international market, it said.