Dongfeng Honda Automobile, a joint venture between Honda and Dongfeng Motor Group, will build a new US$169 million production facility in Wuhan, Hubei province, in order to keep up with growing demand.
The one million square meter plant will be Honda’s fifth in China, having a similar joint venture arrangement with Guangzhou Automobile Industry Group.
The Japanese [...]
Mazda and Ford have entered discussions to possibly dissolve their joint venture in China, under which the foreign auto makers currently share manufacturing bases in Chongqing and Nanjing with Chongqing Changan Automotive.
The discussions could result in a restructuring in which the Chongqing operations would be jointly owned operated by Ford and Changan, while the Nanjing [...]
Santander is planning a joint venture with China Construction Bank (CCB).
The Spanish bank, the largest in the euro zone, declined to comment, but sources said the venture will focus on rural banking and car financing. State media said the joint financial holding company will likely have an initial capital of US$439 million, rising to US$732 [...]
SAIC Motor, China’s top vehicle producer, announced Tuesday that it sold 252,190 vehicles last month, up 91% year-on-year, thanks in part to government policies encouraging automobile purchases.
SAIC, which has partnerships with General Motors and Volkswagen, has sold 2.44 million vehicles so far this year; sales from its joint venture with GM more than doubled year-on-year to [...]
Morgan Stanley has restarted efforts to sell its stake in China International Capital Corp (CICC), the country’s first joint venture investment bank.
The 34.3% stake in CICC could be worth as much as $1 billion, according to people familiar with the matter, who spoke anonymously because the bidding process is confidential. US private equity firms are [...]
Air China will accelerate talks with Cathay Pacific Airways regarding the formation of an air cargo joint venture based in Shanghai.
The venture is intended to mount a stronger challenge to China Eastern Airlines and Shanghai Airlines, which are set to merge this year. Air China board secretary Huang Bin said the airline will boost its [...]
Brokerage CLSA will form an asset management joint-venture with Chinese state-owned investment firm Shanghai Guosheng Group to launch a US$1.46 billion yuan-denominated investment fund.
The 50-50 joint venture Guosheng CLSA (Shanghai) will invest in environment- and consumer-related, renewable energy and heavy machinery sectors. Hong Kong-based CLSA is the latest in a string of foreign investors to [...]
Italian carmaker Fiat and Guangzhou Automobile Group announced Monday that they will create a joint venture to produce economy cars for the Chinese market.
The new venture will give Fiat the mainland presence it has long been seeking. Starting in May 2011, the JV will produce 140,000 cars per year, Fiat said, and may increase production [...]
The listed arm of Aluminum Corp of China (Chinalco), known as Chalco, wants to raise up to 10 billion yuan through the placement of up to 1 billion A-shares.
Chalco said it would invest approximately 3.7 billion yuan of the proceeds in the Xing Xian alumina project, 2.3 billion yuan in the Chongqing alumina project and [...]
Taiwan-based LCD manufacturer AU Optronics said Monday will create a US$14.6 million joint venture with Sichuan Changhong, a mainland TV maker, to produce LCD modules on the mainland.
AU Optronics is the world’s third-largest LCD module manufacturer. AU is strengthening its presence on the mainland to take advantage of Beijing’s stimulus package, which has boosted demand [...]
