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Sep 5, 2010

Changan Auto, Ford discuss expanding ties beyond China

TIANJIN (Reuters) – Major Chinese automaker Chongqing Changan Automobile (000625.SZ: Quote, Profile, Research, Stock Buzz) is in talks with Ford Motor (F.N: Quote, Profile, Research, Stock Buzz) to expand their partnership beyond China, a senior Chinese executive said.

Chongqing Changan, which makes Focus and Fiesta among other models with Ford and Mazda Motor (7261.T: Quote, Profile, Research, Stock Buzz), is joining SAIC Motor Corp (600104.SS: Quote, Profile, Research, Stock Buzz), seeking to expand the tie with its foreign joint venture partner beyond the current terms and conditions.

Sep 3, 2010

PSA on track to build 3rd China plant

TIANJIN, Sept 4 (Reuters) – French carmaker PSA Peugeot
Citroen (PEUP.PA: Quote, Profile, Research, Stock Buzz) is on track to build a new China car plant
with Dongfeng Motor Group (0489.HK: Quote, Profile, Research, Stock Buzz), and is looking to export
from China as early as 2011, its Asia chief said on Saturday.

PSA Peugeot, a long-time partner of Dongfeng Motor, has been
speeding up expansion in the world’s biggest auto market, where
General Motors [GM.UL] and Volkswagen AG (VOWG.DE: Quote, Profile, Research, Stock Buzz) lead.

Sep 1, 2010

China Aug car sales surprisingly robust, policy helps

BEIJING, Sept 1 (Reuters) – China’s car sales in August rose
59.3 percent from a year earlier, bouncing surprisingly higher
after sluggish sales in the summer months, helped largely by
Beijing subsidies for fuel-efficient models.

The up-turn in demand in the world’s largest car market could
extend into September and October, the best auto sales season,
and may continue into the winter months if automakers slash
prices to drive sales, industry observers said.

Aug 31, 2010

Baidu, Rakuten virtual shop to open in Oct

BEIJING, Aug 31 (Reuters) – An online shopping joint venture
between China’s Baidu.com (BIDU.O: Quote, Profile, Research, Stock Buzz) and Japan’s Rakuten (4755.Q: Quote, Profile, Research, Stock Buzz)
may start operations in the first half of October and is aiming
for a tenfold jump in headcount over three years, its top
executive told Reuters.

China’s biggest Internet search engine and the Japanese
online mall operator formed the company, named Lekutian, for $48
million in January this year.

Aug 26, 2010

MAN says focused on project with Sinotruk

BEIJING, Aug 26 (Reuters) – Germany’s MAN SE (MANG.DE: Quote, Profile, Research, Stock Buzz) could
increase its stake in China’s Sinotruk (3808.HK: Quote, Profile, Research, Stock Buzz) but its focus
for now is on a joint truck project, the German industrial
group’s chief executive said on Thursday.

MAN took a 25 percent stake in Chinese truck maker Sinotruk
last year and the companies had been jointly working on a new
truck family expected to be rolled out in 2011, the companies
said in a joint statement.

Aug 25, 2010

Air China Q2 net up 29 percent on bouyant air travel

BEIJING (Reuters) – Air China (601111.SS: Quote, Profile, Research, Stock Buzz) (0753.HK: Quote, Profile, Research, Stock Buzz) reported a 29 percent rise in second-quarter earnings on Wednesday as more people took to the skies in the world’s fastest growing major aviation market.

The Chinese flag carrier’s outlook remains bright for the rest of the year on strong growth in business and leisure travel in the country, which by some estimates has already overtaken Japan as the world’s second-largest economy.

Aug 17, 2010

Carmakers eye vehicle finance to drive China growth

BEIJING (Reuters) – Shanghai resident Jiang Qinxia is just the kind of guy that global automakers like General Motors hope will jumpstart their foray into China’s fledgling and potentially lucrative consumer auto financing business.

As an upwardly mobile junior manager, Jiang, 26, recently drove home a new 105,000 yuan Buick Excelle after taking out 50,000 yuan loan from GMAC-SAIC, a three-way tie between Ally Financial, a SAIC Motor (600104.SS: Quote, Profile, Research) affiliate and GM’s car venture with SAIC.

Aug 17, 2010

Analysis: Automakers eye vehicle finance to drive China growth

BEIJING (Reuters) – Shanghai resident Jiang Qinxia is just the kind of guy that global automakers like General Motors GM.UL hope will jumpstart their foray into China’s fledgling and potentially lucrative consumer auto financing business.

As an upwardly mobile junior manager, Jiang, 26, recently drove home a new 105,000 yuan ($15,500) Buick Excelle after taking out 50,000 yuan loan from GMAC-SAIC, a three-way tie between Ally Financial, a SAIC Motor (600104.SS: Quote, Profile, Research, Stock Buzz) affiliate and GM’s car venture with SAIC.

May 25, 2010

Hua Xia Bank sees more revenue from e-banking unit

BEIJING, May 25 (Reuters) – Hua Xia Bank <600015.SS>, in which Deutsche Bank <DBKGn.DE> is a minor shareholder, aims to steadily boost its revenue from electronic banking, a senior executive told Reuters on Tuesday.

Internet and telephone banking income is expected to account for 30 percent of Hua Xia’s total fees and commissions this year, up from 25 percent in 2009, said Yun Mingqing, chief information officer of the medium-sized Chinese lender.

May 13, 2010

SAIF raising $1 bln private equity fund

BEIJING (Reuters) – Asia private equity firm SAIF Partners said it is close to completing a new fund with more than $1 billion (680 million pounds), and plans to raise its largest-ever yuan fund in the second half, drawing on strong demand for China investments.

SAIF, one of China’s oldest private equity firms and whose past investments include Shanda Interactive <SNDA.O> and Perfect World <PWRD.O>, expected to close its $1 billion-plus fund by the end of next month, Principal Zhao Yanchao told Reuters in an interview on Thursday.