Jie Xu, the former CEO, has resigned to devote more time to his other business interests. Mr Xu will remain chairman of the board. In addition, Mr Qi has joined the company’s board of directors. He replaces Ge Zengke, who will continue in his role as general manager of the company.

Mr Qi has more than 14 years of experience serving as CEO and a senior manager at several multi-million dollar manufacturing organizations in China. Since May 2005, he has served as the chairman and CEO of Zhong Xin Guo Lian Investment, an investment and asset management company based in Beijing, China.

He also served as vice president of Tian Jing New Giant International Trade from April 1996 to August 1997 and as manager of China Mechanical Equipment from July 1986 to March 1996.

Mr Qi said: “It is a great honor for me to join the management team of Wuhan General. I have seen the company evolve from a state-owned enterprise into the company it is today and I am excited to lead our growth efforts going forward.”