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Banks show greater generosity to automakers

BEIJING — First Automotive Works executives have been pleasantly surprised by the generosity of banks this year, unlike last year when loans were harder to come by. Shanghai Automotive Industry Corp. has also had an easier time securing auto financing this year. "Considering the huge profits to be made, Chinese

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SAIC and SAIC Motor reshuffle management team

SHANGHAI -- Leading executives from Shanghai Automotive Industry (Group) Corp. (SAIC) and SAIC Motor Corp., Ltd. (SAIC Motor), including Hu Maoyuan and Chen Hong, were appointed to new positions on August 2. The Shanghai Municipal Party Committee announced the reshuffling at an SAIC management conference. Hu, SAIC Motor's current chairman and

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Oil imports rise

BEIJING– China's net import of crude oil and processed oil rose 17.6 and 48.3 percent to 70.33 million and 12.03 million tons in the first half of 2006, according to customs statistics.Net import value of crude oil was $32 billion, while that of processed oil reached $4.37 billion. In addition,

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