On July 4, SAIC and CITIC Group signed a strategic cooperation agreement in Shanghai. The two sides will seek a global strategic partnership of mutual complementarity and common development.
According to the SAIC Group, SAIC and CITIC Group will launch in the fields of “integrated financial services, upgrades and research and development of new energy auto parts, automobile sales and services, automobile logistics, international development, industrial plants and energy conservation and environmental protection”. Cooperation, giving play to the advantages of expertise, technology, resources and market in their respective traditional fields, promoting the high-end movement of products and services to the value chain and enhancing the core competitiveness of both parties. The two sides will also use their effective resources to seek new business growth points and enhance their ability to respond to the complex and volatile economic environment.