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china [2] |||unced measures to restrain the rapid expansion of its automobile industry, sayin

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9 Banks Start Incorporating in China

Sun, 24 Dec 2006 19:40:34 EDT | New York Times

The group that includes Citigroup and the British bank HSBC Holdings, have won approval to prepare for local incorporation in China.


World Business Briefing: China: Auto Industry to Face Restraints

Tue, 26 Dec 2006 23:36:12 EDT | New York Times

China announced measures to restrain the rapid expansion of its automobile industry, saying the sector could face a serious overcapacity problem if trends continued. The National Development and Reform Commission, the country?s top economic planner, called improving the industry?s structure an urgent task. Auto sales in China, the world?s second-largest auto market after the United States, jumped 25 percent in the first 11 months of 2006 from a year earlier, to 6.45 million vehicles.


World Business Briefing: China: A Push to Explore for Natural Resources

Wed, 27 Dec 2006 23:31:46 EDT | New York Times

China will take advantage of its large foreign exchange reserves to expand its stock of natural resources like oil and minerals, state media reported, citing a top economic official. The vice prime minister, Zeng Peiyan, left, told leaders of the national legislature that the government planned to step up exploration for crucial resources like oil, gas and coal. The report did not provide details on how China would use the reserves, but some economists said the country could issue long-term bonds to gain access to the money.


Chrysler in Deal With Chinese Automaker

Fri, 29 Dec 2006 22:25:25 EDT | New York Times

The deal with the Chery Automobile Company of China would produce a new small car that would be made in China and marketed around the world.


World Business Briefing | Asia: China: Venture to Build Vans

Tue, 02 Jan 2007 23:38:32 EDT | New York Times

DaimlerChrysler said a joint venture with the China Motor Corporation to make vans won state approval, allowing the company to add capacity in China. DaimlerChrysler, China Motor and the Fujian Motor Industry Group received permission from the Ministry of Commerce in China for a 200 million euro ($264 million) venture to build as many as 40,000 Mercedes-Benz vans a year, said Trevor Hale, the Beijing-based spokesman for DaimlerChrysler.


World Business Briefing: China: Sabmiller Expands Venture

Wed, 03 Jan 2007 23:05:49 EDT | New York Times

SABMiller said its China venture would buy a local partner for $320 million to expand in the world?s biggest beer market. China Resources Snow Breweries, 49 percent owned by SABMiller, agreed to buy the shares it does not already own in the Blue Sword Group, which owns 38 percent stakes in 14 breweries in central Sichuan province. The remaining shares are owned by China Resources Snow. In October, SABMiller said that its China Resources Snow venture had become China?s largest brewer by sales volume, beating its domestic rival Tsingtao Brewery.


World Business Briefing: China: Google Invests in Internet Firm

Thu, 04 Jan 2007 23:21:26 EDT | New York Times

In a move to expand beyond the search business in the world?s second-largest Internet market, Google has made an investment in Xunlei NetworkTechnology, a Chinese Internet video firm, the company said. A Google spokesman said that the investment in Xunlei would be announced today in Beijing, but he declined to give details. According to wire services, the China Daily reported that Google will team up with Ceyuan Ventures, a venture capital firm in Shangai, to buy a stake in Xunlei, which is in Shenzhen. According to the reports, Xunlei?s Web site attracts more than 50 million visitors a day and more than 80 million users have downloaded its software. The Xunlei deal would be Google?s second in as many days in China. Google is also teaming with China Mobile, that country?s largest mobile telecommunications carrier, to deliver search services to cellphones.


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