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September 3 – BMW AG, Volkswagen AG and Daimler AG said they remain confident about their growth prospects in China's car market despite warnings from Saic Motor Co (SHA: 600104), China's largest automaker and a partner in joint ventures with General Motors Co (NYSE: GM) and Volkswagen, that the country's car industry is struggling with high inventories, sharp discounts and limitations on the number of new cars allowed on the streets in major cities, the Wall Street Journal reported. The relatively upbeat comments come amid mounting evidence that slowing economic growth and tougher regulations have taken the froth out of the Chinese market even if demand for luxury cars remains robust.
http://online.wsj.com/article/SB10000872396390444914904577623194134882390.html
August 30 – Airbus SAS signed an agreement to build a $1.6 billion assembly line in Tianjin, according to German officials who were visiting China with the country's chancellor, Angela Merkel, the Wall Street Journal reported. China will also buy 50 Airbus A320 jetliners valued at $3.5 billion in total, according to the agreement. Volkswagen AG has also agreed to invest $290 million building an auto parts factory in Tianjin.
http://online.wsj.com/article/SB10000872396390443864204577620412854928748.html
August 29 – InterContinental Hotels Group PLC (NYSE: IHG), the world's largest provider of hotel rooms, said it plans to open new 10 locations in China, increasing the number of its locations in the country to 63 by the end of this year. The 10 openings will take place in top tier cities including Shanghai and Hong Kong as well as smaller cities including Hefei, Xi'an, Xuzhou, Zhenjiang, Tianjin, Lanzhou, Huangshan and Xishuangbanna.
http://www.linkshop.com.cn/web/archives/2012/223347.shtml
August 29 – Apple Inc's (Nasdaq: APPL) share in the Chinese smartphone market was just 7.5% in 1H 2012, ranking the company in seventh place, according to IHS iSuppli. Samsung, which recently lost a patent suit against Apple in the US, captured the first place in China.
http://tech.qq.com/a/20120829/000109.htm
August 28 – Ford Motor Co (NYSE: F) plans to begin selling vehicles from its Lincoln brand in China in 2H 2014, initially importing the cars from the US with some modifications, the Wall Street Journal reported. Ford eventually plans to assemble a nationwide network of exclusive Lincoln dealers in China, which will help it push an image of simplicity that it hopes will set it apart from other foreign brands.
http://online.wsj.com/article/SB10000872396390444327204577615740841129480.html
$1 = ¥6.34
@2011 China Economy @ The China Perspective.
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