One joint venture will consist of Changan Automobile Co. and Ford Motor Co., and the other will include Changan and Mazda Motor Corp., the Beijing Times reported.

Last year, Changan and Mazda asked China's top planning agency, the National Development and Reform Commission, to dissolve the three-way partnership so that Changan and Mazda could set up a separate joint venture.

But the commission rejected the request. The commission wanted each foreign automaker's joint venture to introduce a domestic brand, according to the Times.

So Changan and Mazda have started a project to launch a new domestic brand. That project made it possible for the two companies to gain commission approval to set up their own 50-50 joint venture. The new joint venture will be in the east China city of Nanjing, the Times reported.

The future of the 50-50 joint venture between Changan and Ford was unclear, given that the companies have not announced plans to launch a new domestic brand. Ford China CEO Joe Hinrichs said in a recent interview that launching a new brand "is under review."

Changan Ford Mazda, established in 2001 in the southwest China municipality of Chongqing, is a 50-35-15 joint venture of state-owned Chinese automaker Changan, Ford and Mazda.

Changan Ford Mazda has two vehicle assembly plants. The Chongqing plant mainly builds Ford brand models, while the Nanjing plant mainly produces Mazdas.