General Motors said it has been given preliminary approval to establish a joint venture with mini-vehicle maker SAIC-Wuling Automobile Co. According to industry sources quoted by Reuters, the US$100m venture would involve GM giving Wuling the technology to make multi-purpose vehicles. SAIC and Wuling would together hold 66 per cent of the venture. GM’s China […]
Category:
The financing division of General Motors is poised to enter China’s nascent car financing business, with the prospect of the country opening up its financial sector following its accession to the World Trade Organisation late last year. The chief executive of General Motors Acceptance Corporation, Scott Reno, told SCMP.com that his firm was planning a […]
Britain’s Institute of the Motor Industry has sold an online exam to test up to 3m car mechanics to China’s State Economic and Trade Commission, reported the Financial Times. The exam will cost about US$45 per technician and pilot tests will begin this year after the exams have been translated into Mandarin. The tests have […]
BP’s US$2.7bn petrochemical joint venture deal near Shanghai was signed last month. The three-way project with Sinopec and Shanghai Petroleum Co will be built at Caojing and could process up to 900,000 tonnes of ethylene a year. A US$1.8bn financing package for the deal was signed, which, according to the Financial Times, for the first […]
Categories
Market researcher merges units
Taylor Nelson Sofres of the UK has amalgamated its China units into one joint venture, the company announced in December. It said that the new company, CVSC-TNS Research, would hold a dominant national share in each of the markets for measuring television audiences, consumer purchasing and advertising expenditure. The joint venture is 54 per cent […]