red flag

　　FAW Car Co., Ltd. is a holding subsidiary of China FAW Group and the first joint-stock listed company in China’s car manufacturing industry. It was established by restructuring the high-quality assets of FAW Group, which is mainly engaged in the production of Hongqi cars and their accessories.
.
　　Since its establishment, the company has formulated and implemented the business strategy of "national brand and open development" around the needs of the market and users. The leading products of Hongqi brand cars have formed three series: "Hongqi flagship", "Hongqi century star" and "Hongqi Mingshi", which provide the market and users with series models of different grades and prices from advanced, intermediate to ordinary levels, and are deeply favored by the market. In recent years, with the rapid progress of the company’s operation and management, the brand value of Hongqi has continued to appreciate, from 3.501 billion yuan in 1999 to 4.803 billion yuan in 2002, which has been recognized by more and more car consumers and has always occupied the first place in brand value evaluation of China car manufacturing industry.