1932
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Croisière Jaune: the China Group
arrives in Beijing
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1985
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Citroën takes part in the first Chinese Motor Show in
Shanghai. A delivery contract is signed for 250 CXs.
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1987
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Initial contact with Second Automobile Works - SAW -
subsequently Dongfenf Motor, China's second biggest truck manufacturer.
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1988
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Operation Dragon : 140
young Europeans drive more than 4 500 km from Shenzen to Beijing in a
fleet of AXs.
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December 1990
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Joint-venture contract signed with SAW, pending a
financial agreement between the French and Chinese governments.
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1992
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Official
founding of DCAC - Dongfeng Citroën Automobile Company. A joint-venture
set up by Automobiles Citroën and Dongfeng Motor Corporation, the
company's objective is to manufacture and sell the ZX in China.
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1992
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Sixty
years after the Croisière Jaune, Pierre Lartigue and Michel Perin won
the first Paris-Moscow-Beijing rally with their Citroën ZX Rallye Raid.
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1992 - 1996
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Two production plants built at Wuhan and Xiang Fan, in
Hubei province.
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2000
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DCAC increases its capital to RMB 6 billion.
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November 2001
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New
phase in the cooperation between PSA Peugeot Citroën and Dongfeng Motor
Corporation. Jean-Martin Folz, Chairman of PSA Peugeot Citroën, and
Miao Wei, Chairman of Dongfeng Motor Corporation, sign a memorandum of
understanding to reinforce and accelerate the cooperation between the
two groups. The objective is to significantly increase the production
and sale of Citroën and Peugeot brand vehicles, by bringing in the PSA
Peugeot Citroën group as a whole to work alongside its Chinese partner.
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June 2002
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Tenth anniversary of DCAC. More than 300,000 vehicles
have been produced in China since 1992.
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December 2002
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The
Chinese authorities approve the new joint-venture contract signed on 25
October 2002: Dongfeng Peugeot Citroën Automobiles (DPCA) is born. To
finance the investments necessary for this second phase, the two groups
decide to increase the capital of the joint-venture to RMB 1 billion
(€123 million). PSA Peugeot Citroën contribute RMB 625 million (€77
million) and Dongfeng Motor Corporation RMB 375 million (€46 million).
This gives the two groups equal stakes (32%) in the capital of the
joint venture, the rest being held by Chinese and French banks. Under
the terms of the agreement, PSA Peugeot Citroën and Dongfeng Motor
Corporation will become sole shareholders at the end of 2003 on a
fifty-fifty basis.
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