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FAW said it will broaden cooperation with Guangzhou Automobile Industry Group to improve operational quality and efficiency, citing a strategic framework signed on Tuesday and linking it to GAC’s plan to acquire a 50% stake in FAW Toyota that will make FAW its second-largest shareholder.
FAW Group, one of China's centrally administered state-owned automakers, said it would expand cooperation with Guangzhou Automobile Industry Group to improve operational quality and efficiency, as consolidation gathers pace in the world's largest auto market.Under a strategic cooperation framework…