Private auto company China Geely Group moves its headquarters from Ningbo to Hangzhou, China. Both cities are located in Zhejiang province. A ceremony was held in Hangzhou Jan. 16, to mark the occasion. "Moving our headquarters to Hangzhou will be one of the milestones in Geely Group’s development," says Li Shufu, Geely Group chairman. He says the move should help the group achieve its annual sales revenue goal of RMB80 billion ($9.6 billion) within the next 12 years.

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