GM, Ford to export more cars to China

General Motors Corp and Ford Motor Co will export more vehicles and parts to China, according to separate agreements signed by the firms on Monday, AP reported. GM will sell and export US$1 billion worth of vehicles, component kits, machinery and equipment to its Chinese partner Shanghai General Motors by 2010. Ford will sell more than 30,000 North American-built vehicles and transmission component parts to its Chinese joint venture, Changan Ford Mazda Automobile Co, for US$800 million. The agreements were timed to coincide with high-level economic talks between the US and China in Maryland this week, and Chinese Vice Premier Wang Qishan attended the signing ceremonies for each agreement.