General Motors Corp, Ford Motor Corp and DaimlerChrysler AG clinched trade agreements with China that permit them to export of vehicles to China.
General Motors signed agreements totaling around US$1.3 billion which will allow GM to export thousands of vehicles to China in 2004 and 2005. The deals cover arrangements for exporting Buicks, Cadillacs and components for GM vehicles.
Ford acquired an import license which it will use to send 5,000 vehicles to China. The vehicles will be distributed and sold through its China dealer network.
DaimlerChrysler obtained a license allowing it to export 4,500 Mercedes-Benz and Chrysler vehicles through 2004.