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Official automobile spending reaches over £¤3.5 billion in 2012

BEIJING – China’s government spending on official automobiles by over 80 Chinese central government agencies and institutions in 2012 reached more than ¥3.5 billion ($569 million), including new vehicles procurement and maintenance, reported Beijing News on July 16 citing information from these agencies and institutions. Automobile expenditures accounted for 60.39

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Illegal spending on official vehicles surpasses £¤20.44 million in 2012

BEIJING – Illegal spending of more than ¥20.44 million ($3.325 million) on official automobile procurement and maintenance in six Chinese central agencies and their affiliated institutions in 2012 was revealed, reported Beijing News citing information from National Audit Office of China (NAO). According to an NAO’s recent annual audit report,

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Revenues and net profits of Chinese public-listed suppliers drop in 2012

BEIJING – Combined revenues of 20 major Chinese public-listed suppliers in 2012 dropped 3.2 percent on a yearly basis to ¥221.161 billion ($35.894 billion), according to information collected by Gasgoo.com recently. Net profits of these 20 suppliers were ¥13.60 billion, down 10.8 percent. The average net profit margin decreased 0.5

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Financial performance of Chinese public-listed automakers in 2012

BEIJING— Only seven of 24 Chinese public-listed automakers including SAIC, Great Wall Motor, Geely, Yutong Bus, Chang’an, Zhongtong Bus and Yaxing Bus realized revenues and earnings growth in 2012, according to the financial reports released by these company. SAIC remained the top spot by realizing revenues of ¥478.4 billion ($77.644

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