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Mar 9, 2012

China Feb car sales up 26.5 pct, market seen stabilising

BEIJING, March 9 (Reuters) – February car sales in
China rose 26.5 percent from a year earlier, rebounding strongly
from a slump in the previous month as automakers and dealerships
resumed normal operations after the lunar new year holidays.

However, sales in the first two months still slipped 4.4
percent from the year-ago-level, reflecting the impact
of the holidays that sometimes fall in January and sometimes in
February. Industry observers typically look at the two-month
combined figure to gauge the state of the industry.

Mar 7, 2012

China’s top corn grower to expand acreage, cut soy

BEIJING, March 7 (Reuters) – China’s northeast
province of Heilongjiang, the country’s top corn and soy grower,
aims to raise total grains output by eight percent in 2012 and
will expand its corn acreage by paring back on land for soy, a
local agriculture official said.

Heilongjiang produced 15 percent, or 26.76 million tonnes,
of China’s total corn output in 2011, equal to the total harvest
in Argentina, the world’s second largest corn exporter.

Mar 5, 2012

Jaguar Land Rover, Chery seek OK for $2.8 billion China JV

BEIJING (Reuters) – Jaguar Land Rover and Chery Automobile Co are seeking regulatory approval for a 17.5 billion yuan ($2.78 billion) car venture in eastern China, two people with direct knowledge of the deal told Reuters on Monday.

The deal marks Jaguar Land Rover’s latest effort to expand its appeal in the world’s largest auto market where luxury sedans and SUVs remain in hot demand even as the overall car market cools.

Mar 5, 2012

Jaguar Land Rover, Chery seek OK for $2.8 bln China JV -sources

BEIJING, March 5 (Reuters) – Jaguar Land Rover and
Chery Automobile Co are seeking regulatory approval for a 17.5
billion yuan ($2.78 billion) car venture in eastern China, two
people with direct knowledge of the deal told Reuters on Monday.

The deal marks Jaguar Land Rover’s latest effort to expand
its appeal in the world’s largest auto market where luxury
sedans and SUVs remain in hot demand even as the overall car
market cools.

Feb 27, 2012

China’s consumers embrace bulky, pricey SUVs

BEIJING (Reuters) – In 2005, Mercedes-Benz took a gamble and shipped its first batch of 200 sport utility vehicles from Germany to China, where cheap hatchbacks and black sedans ruled the roads.

“I was in the headquarters and my predecessor made this decision,” said Klaus Maier, the company’s China boss. “We were wondering whether we could sell this car.”

Feb 27, 2012

Feature: China’s consumers embrace bulky, pricey SUVs

BEIJING (Reuters) – In 2005, Mercedes-Benz took a gamble and shipped its first batch of 200 sport utility vehicles from Germany to China, where cheap hatchbacks and black sedans ruled the roads.

“I was in the headquarters and my predecessor made this decision,” said Klaus Maier, the company’s China boss. “We were wondering whether we could sell this car.”

Feb 27, 2012

FEATURE: China’s consumers embrace bulky, pricey SUVs

BEIJING, Feb 27 (Reuters) – In 2005, Mercedes-Benz
took a gamble and shipped its first batch of 200 sport utility
vehicles from Germany to China, where cheap hatchbacks and black
sedans ruled the roads.

“I was in the headquarters and my predecessor made this
decision,” said Klaus Maier, the company’s China boss. “We were
wondering whether we could sell this car.”

Feb 24, 2012

Ford plays catch-up in China with new plant, dealerships

CHONGQING (Reuters) – Ford Motor (F.N: Quote, Profile, Research, Stock Buzz) is on track to double the number of dealerships in China by 2015, its country chief said on Friday, as it launches a half-billion-dollar plant and races to narrow the gap with foreign rivals in the world’s largest auto market.

Ford, which unveiled the new Focus at the opening of a plant in the southwestern municipality of Chongqing, is adding an average of two outlets a week to bring the total to 680 by 2015, said David Schoch, chairman and CEO of Ford’s China operations.

Feb 16, 2012

China State Grid says won’t bid for Brazil’s Rede

BEIJING, Feb 16 (Reuters) – The State Grid Corp of
China will not bid for a controlling stake in Brazilian power
distribution company Rede Energia, a company official
confirmed on Thursday.

State Grid’s decision leaves other contenders, such as CPFL
Energia, in a better position to win the 54 percent
stake that is being sold by Jorge Queiroz, the main shareholder
and chairman of Rede Energia, which has a market capitalization
of about $1.1 billion.

Feb 15, 2012

BP hopes to drill new S.China Sea gas block this yr

BEIJING, Feb 15 (Reuters) – Oil giant BP Plc
plans to start drilling at the 43/11 deepwater block in the
South China Sea this year, after receiving approval recently
from the Chinese government, a company executive said on
Wednesday.

“When we start depends on many factors, such as whether the
drilling rig is ready. We hope to start drilling there by the
end of the year.” BP China President Chen Liming told Reuters.