Chinese firm speeds up to overtake foreign rivals

BAIC is set to complete three manufacturing bases in order to target five regions for growth

Foreign carmakers injecting billions into China to ride the country's fast-growing market is passe. Over the past few years, the two-decade-old cliche has been making way for a new theme as Chinese auto companies such as Beijing Automotive Industry Holding Co decided to go global with their easily serviceable and inexpensive products.

BAIC is one of China's largest automakers in terms of sales. It will complete building three global manufacturing bases in South Africa, Mexico and Ruili of Yunnan province by the end of 2017. This will likely help it to compete with established global rivals such as Toyota Motor Corp and Ford Motor Co.