China Economic ReviewThe Chinese government interceded in General Motors' (GM) trademark dispute with state-owned Chery Automobile to ensure Premier Wen Jiabao's visit to the US went smoothly. Chery, based in Anhui province, makes a minicar called the QQ, which resembles GM's Chevrolet Spark. Chery denied it had infringed any trademarks. China habitually smooths over political and trade […]
Auto sales continued to increase rapidly in the first ten months of 2003. From January to October, sales of passenger cars rose 68 percent year-on-year to 1.6 million units. The top two companies in terms of sales were two Volkswagen joint ventures. Shanghai Volkswagen, the German automaker's joint venture with Shanghai Automotive Industry Corporation (SAIC), […]
GM Shanghai, a joint venture of US-based General Motors, announced that it will start to sell its first China-produced sport utility vehicle (SUV). The GM Spark will be sold in 14 cities in China and will be aimed at young office workers. Shanghai GM said that the Spark would be priced from US$7,500 and up. […]
Shanghai Automotive Industry Corp (SAIC), one of China's largest automakers, announced plans to build a new production plant in Shanghai's suburban Nanhui District. The plant will be able to produce some 300,000 vehicles every year, generating an annual output value of RMB 60 billion (US$7.2 billion) when it is completed. Total investment in the project […]
The China Banking Regulatory Commission (CBRC) issued follow-up rules detailing regulatory requirements and procedures for the establishment of auto financing companies. These companies are required to have capital adequacy ratios of 10 percent, which is stricter than the 8 percent requirement for commercial banks. Total guaranteed outstanding loans must not exceed 200 percent of the […]