China Economic ReviewGerman-US automaker Daimler Chrysler will begin producing Mercedes-Benz sedans for the Chinese market in its joint venture with Beijing Automotive Industry Holding Corp by the end of the year, state media reported. The 50-50-venture will have a 25,000 car-per-year production capacity at its Beijing plant, but initial demand is expected to be low, given government […]
China's industrial output exceeded expectations, increasing 16.6% in the first five months of this year, reflecting strong internal and external consumer spending, Reuters reported, citing analysts. Retail sales were up 12.8% and exports rose 30% in May from one year earlier. Output didn't reach the 16.7% and 17.0% growth rates of 2004 and 2003 respectively. […]
Haier Group, China's leading home appliance maker, may make a bid for Maytag Corp, a US$4.7bn US appliance company, state media reported, citing the Financial Times. Last month Maytag agreed to be taken private by equity investment company Ripplewood Holdings, but the US$2.1bn deal allows Maytag to seek other bids until the end of this […]
The Central Huijin Corp, a wholly state-owned investment company, has won Beijing's approval to inject about US$1.5bn into China Galaxy Securities, one of China's biggest state-owned brokers. It is part of government efforts to develop the securities sector and capital markets, state media reported. Plagued by a sluggish equities market, China's securities regulators are helping […]
China's meteoric rise as a force in the global economy is prompting a rethinking of the long-held assumption that free trade is in the best interest of the US and the rest of the world, Knight Ridder Newspapers reported on Thursday, citing US economists and trade experts. China's success fuels fear that developing nations led […]