Dongfeng is looking for global mergers and acquisitions opportunities in the global auto market according to its chairman Xu Ping.

Xu also said that the possible appreciation of China’s yuan currency would further strengthen the company’s position in making any acquisitions.

Dongfeng has set up joint ventures with a number of firms in China, but is now looking to expand its international footprint, in common with other Chinese automakers.

Dongfeng’s vehicle sales rose 44% year on year to 1.9 million units last year, boosted by the Chinese government’s fiscal stimulus policies.