GM and its partners would be building new plants and increase production to five million cars a year.
Tags: China
Baidu Acquires PPS Online Video Operations
Baidu acquires PPS online video operations to expand its market share. Baidu. com, the Beijing based Chinese language Internet web search portal announced that it was purchasing the online video operations of PPS for the price of US$370 million.
GM Increases Investments in US Compared To China
GM, in a letter obtained by the Wall Street Journal, said it would increase its capital funding in the US compared to China.
The European Commission Receives Subsidy Complaint
The European Commission receives subsidy complaint against China for illegal subsidies on solar glass sold in the EU market.
Sinopec of China Enters into Agreements with CPC of Taiwan
The neighbors at the Formosa Strait are now in agreement as to oil and gas explorations in Myanmar. Sinopec Group, the largest Asian oil refiner, had announced last Thursday that it had entered into an agreement to sell its 30% shareholdings in an oil and gas block located in Myanmar.
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Sinopec's bond sale is the largest debt sale in Asia outside of Japan. In a recent announcement, China Petroleum and Chemical Corporation has raised a total of US$3.
China interested in purchasing the ConocoPhillips share in the Kashagan oil field in Kazakhstan. China has indicated an interest in purchasing a stake in US oil company ConocoPhillips in a multinational consortium aiming to develop Kazakhstan's Kashagan oil field.
China conditionally approves Glencore-Xstrata merger. The merger plan of Glencore and Xstrata cleared its final hurdle when the Ministry of Commerce of China backed the deal's completion.
Dai Xianglong of the National Social Security Fund recommends state controlled enterprises In a quote of the National Social Security Fund council's party secretary, he is proposing that Chinese state-owned enterprises transfer 30% of their capital gains and ownership shares exceeding 51% to the fund.
Glencore to agree to concession requirements to achieve regulatory compliance for Xstrata merger. Glencore is now in the process of confirming concessions in order alleviate Chinese worries over its stranglehold on the existing copper supplies.
The Head of the Statistics Department of the General Administration of Customs in Beijing admits providing incorrect and groundless data.
Private equity firm Carlyle Group is the new owner of Central Plaza, an office building in Shanghai, China, acquiring it for $267 million from Forterra Trust, a Singapore-listed real estate fund.
SunTech exploring options with investors and buyers of assets. Beleaguered Chinese solar panel manufacturer Suntech Power Holdings Co Ltd is now seeking to sell off some of its assets.
AB InBev is planning of boosting capital outlays in China, acquiring breweries and expanding markets.
