One brand strategy to return to Geely

Geely Automobile Holdings Ltd, whose parent owns Volvo Cars, said on Tuesday that it will go back to a single-brand strategy, meaning that all of its sub-brands - including Emgrand, Gleagle and Englon - may vanish from the market.

Chairman Li Shufu said that "there will be one and only one Geely" in the future.

"At the same time, we will further reinforce and integrate our distribution networks, with higher requirements for the dealerships, to enhance the competitiveness of our products," said Li, who's also a member of the Chinese People's Political Consultative Conference.