Date: Fri, 22 Mar 1996 14:39:13 -0500
Reply-To: Qiong Gu <gq4@COLUMBIA.EDU>
Sender: "SAS(r) Discussion" <SAS-L@UGA.CC.UGA.EDU>
From: Qiong Gu <gq4@COLUMBIA.EDU>
My name is Qiong Gu. I like to subscribe SAS-L.
IM1 China will invest 100 billion yuan,18;2Hr $12 billion, in the eight
;73Hautrt4;73HK5;1Hautrte6;1HK7;1H---------- Forwarded message
----------8;1HDate: Mon, 18 DEC 1995 7:20:19 PST9;1HFrom: P
clari.world.asia.china.biz11;1HSubject: China May Slow Auto Projects13;9HK14;1H
SHANGHAI, China (AP) -- China won't approve new
automobile15;1Hmanufacturing projects between 1997 and 2000, focusing
onK16;1Hstrengthening eight key auto ventures that include deals with ma
---------- Forwarded message ----------
Date: Mon, 18 DEC 1995 7:20:19 PST
From: AP <Cemail@example.com>
Newgroups: clari.biz.industry.automotive, clari.world.asia.china.biz
Subject: China May Slow Auto Projects
SHANGHAI, China (AP) -- China won't approve new automobile
manufacturing projects between 1997 and 2000, focusing on
strengthening eight key auto ventures that include deals with major
international automakers, a newspaper reported Monday.
During the next five years, China will invest 100 billion yuan,
or $12 billion, in the eight auto companies to foster development
of a national auto industry, the Business News reported, citing
sources from the State Ministry of Machine-Building Industry's
China expects annual production of its auto industry to reach a
trillion yuan, or $120 billion, by the turn of the century.
The eight companies that will get preferential treatment are the
Shanghai Automotive Industry Corp. and its Shanghai Volkswagen Co.
joint venture; the First Auto Works Volkswagen Co.; the Wuhan
Citroen Co.; the Beijing Jeep Corp., a venture with Chrysler Corp.;
the Tianjin Huali Motor Co., a venture with Malaysia's Gold Lion
Group; the Guangzhou Peugeot Co., a venture with France's Peugeot;
the Chongqing Changan Automobile Manufacturing Factory; and the
Guizhou Skylark Automotive Factory.
China also aims to restructure the eight companies into
large-scale national enterprises by encouraging them to merge with
other auto groups or take stakes in smaller car companies.
Foreign investment in the auto industry will continue to be
encouraged to accelerate the development of the industry, but
priority will be given to auto components and auto manufacturing
ventures, which have already received government approval, the
China in July approved a $1 billion minivan venture between
Mercedes-Benz, a unit of Daimler Benz of Germany, and Nanfang China
Motor Corp. In October, General Motors Corp. won a $1 billion
project to manufacture sedans with the Shanghai Automotive Industry
If production targets at China's auto ventures are met, annual
car production is expected to reach 3 million units by the year
2000, the paper said. The eight venture companies will contribute
70 percent of the production target.
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