Chinese automaker Beijing Automotive Industry Co (BAIC, or Beijing Auto) recently said that it is prepared to merge, acquire and restructure all the auto industry assets in the city of Beijing this year, sina.com said today.

This move, if successful, means that Beijing Auto will be the first auto group in China to carry out the country's auto sector restructuring plan the Chinese government announced earlier this year. Beijing Auto was listed among the top eight carmakers for expansion by mergers and acquisitions.

Beijing Auto has decided to make itself an auto giant group this year with sales revenue to reach 100 billion yuan ($14.7 billion). To achieve this goal, one of the best ways is to merge and acquire the local, national and even global auto assets. At the beginning, Beijing Auto can restructure the local auto assets in the capital city.