dimanche 11 septembre 2011

Foreign Companies in China Roundup



General Motors Co (NYSE: GM) said its sales in China rose 13.4% year on year to 205,885 vehicles in August. The US automaker said it plans to introduce 60 models to China over the next five years.
Google Inc (NASDAQ: GOOG) said it has had its license to operate its search engine in China renewed. The world's top search engine has been losing market share in the country to local rival Baidu Inc (NASDAQ: BIDU) since January 2010 when it redirected all requests made on the mainland to its uncensored server in Hong Kong.
Hilton Hotels & Resorts said it plans to open 100 hotels in China, including 40 luxury resorts, over the next five years to step up its upscale hospitality business in the country.
Audi said it sold 27,858 vehicles in China in August, up 26% from a year ago.
Nissan Motor Co said it sold 94,700 vehicles in China in August, up 26.1% from a year ago.
Daimler AG said its Mercedes-Benz brand sold 13,812 vehicles in China during the month of August and 120,200 vehicles in the first eight months of 2011, up 3.2% and 35.8% year on year respectively.
Honda Motor Corp (NYSE: HMC) will recall 255,766 vehicles made in collaboration with Guangzhou Automobile Group Co due to flawed automatic window switches that could cause short circuiting.
LG Corp said it would close its cellphone R&D center in Beijing and lay off half of the employees there. The South Korean electronics maker plans to combine R&D and its production facility, which is based in Shandong province, to boost efficiency.

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