May 30 – General Electric Co (NYSE: GE) plans to open its second Chinese innovation center in Xi'an, Shaanxi's provincial capital, to tap into the fast-growing market in western China, Bloomberg reported. The company intends to set up more centers in China after opening the Xi'an center this summer, CEO Jeff Immelt said. GE is carrying out projects as part of a $2 billion commitment made in late 2010. GE has just opened an $80 million center in Chengdu for researching products in areas including health care, energy and transportation.
May 29 – International Business Machines Corp (NYSE: IBM) said it plans to build a cloud computing facility in Lanzhou, Gansu's provincial capital, to serve China's northwestern region, and that it will step up exploring smaller Chinese cities in the years to come .
May 28 – JP Morgan Chase & Co (NYSE: JPM) increased the capital of its China unit by ¥2.5 billion to meet rising demand in the country, Bloomberg reported. This capital infusion, the second since the local subsidiary was incorporated in 2007, will bring its capital to ¥6.5 billion.
May 24 – BMW AG expects its sales volume in China to rise 25% to 30% this year, managing director Friedrich Eichiner said. It sold 233,630 vehicles in 2011, up 37.7% from the year before. The German luxury carmaker also plans to triple its annual capacity in China to 300,000 as part of a $1.27 billion expansion plan in the country.
$1 = ¥6.33
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