Shanghai Automotive Industry Corp. (SAIC), China's top carmaker, announced on Friday the suspension of its shares trading, starting on Feb. 14, due to a "major" plan.

SAIC, a partner of General Motors Corp. and Volkswagen AG, said in a statement filed with the Shanghai Stock Exchange that it had been informed by its holding company, SAIC Group, that it is discussing a major plan involving SAIC.

The statement said SAIC will report on progress of the plan in five trading days.

SAIC shares rose 0.44 percent to 18.45 yuan (2.8 U.S. dollars) at the close Friday.