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The Fujian Motors Group , referred to as Fujian Automobile Group or FJMG, is a wholly state-owned company in Fujian Province. It was established in 1991. It is a large state-owned enterprise in Fujian Province and the largest automobile group company in Fujian Province. The address is located at Fuzhou Hi-Tech Zone Haixi Park Hi-Tech Avenue. Group companies include Fujian Benz (50% joint venture with Daimler AG), King Long (a bus manufacturer) (15%) and Higer Bus. Fujian Daimler, a subsidiary of the group, will sell no less than 40% of its shares to BAIC, while the group itself and Soueast Auto will maintain the current situation and will not enter into new joint ventures. In 2012, Fujian Automobile Industry Group had an operating income of 10.26 billion yuan, of which Southeast Automobile accounted for 7.261 billion yuan, On May 16, 2013, the People's Government of Fujian Province and Dongfeng Motor Corporation signed a strategic cooperation framework agreement, Dongfeng Motor Corporation will acquire 45% of the equity of Fujian Automobile Industry Group Co., Ltd. held by the State-owned Assets Supervision and Administration Commission of Fujian Province through capital increase, At the same time, Dongfeng Motor Corporation and FAW Group will also establish an investment company to control Southeast (Fujian) Automotive Industry Co., Ltd.