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According to news from Volkswagen Automotive (China) Investment Co., Ltd., as China's position in the global strategy of the Volkswagen Group is increasingly important, in order to adapt to the rapid development of the Chinese automobile market, the cooperation with its Chinese partners is further strengthened. Volkswagen Group It was officially announced a few days ago that it will restructure its business structure in China. The Volkswagen Group China? of the Volkswagen Group China, as a primary organization for the unified management of Chinese operations, replaced the former Asia Pacific region and is directly responsible for the Volkswagen Group's global board of directors, taking on more management responsibilities and exercising regional headquarters functions. To this end, Volkswagen Group China has formed a new leadership organization - Executive Management Committee. Dr. Lei Sengeng, former Asia Pacific President of Volkswagen Group, assumed the position of President of China, and led all Volkswagen Group's business in China. He directly reported to Dr. Wei Zhibo, Group Global Vice President and Head of China Affairs. Dr. Zhang Yuxin, former general manager of Volkswagen China Investment Corp., is the executive vice president. He is responsible for human resources and public affairs, and continues to serve as the chief representative of the Beijing office of Volkswagen Group. Through this move, Volkswagen has once again demonstrated its great importance and confidence in the Chinese market. Last year, Volkswagen’s joint venture in China, FAW-Volkswagen and Shanghai Volkswagen produced and sold 700,000 cars. Its production accounted for only one-seventh of its 5 million vehicles worldwide, and its profits accounted for two-thirds of the total global profits of the public. It has become the largest single market outside of Germany. In order to continue to maintain its leading position in the Chinese automotive market, Volkswagen Group will further expand investment in China. The additional investment from 2003 to 2008 will reach a total of 5.3 billion Euros. At the current exchange rate, Volkswagen Group will then The output in China will reach 1.6 million.