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June 6 – General Motors Co (NYSE: GM) said it sales in China rose 21% year on year to 231,183 vehicles in May as demand for minivans produced by a local joint venture boosted overall sales, the Wall Street Journal reported. For the first five months, it reported sales of 1.2 million vehicles, up 12% from a year earlier. But a drop in the auto maker's premium Cadillac division in the country indicates GM continues to face an uphill battle.
http://online.wsj.com/article/SB10001424052702303918204577447884049674306.html
June 6 – Yum! Brands Inc's (NYSE: YUM) KFC opened its 300th store in Shanghai, giving the city more KFC locations than any other urban area in China.
http://www.linkshop.com.cn/web/archives/2012/211958.shtml
June 5 – Royal Dutch Shell PLC (NYSE: RDS.A) said its early drilling results for shale gas in China are encouraging and it now expects to make its development in the country a profitable proposition, the Wall Street Journal reported. Shell signed the first production sharing contract to explore, develop and produce shale gas in China in March, fitting in with China's strategy to introduce technical know-how to the development of its untapped unconventional fuel reserves.
http://online.wsj.com/article/SB10001424052702303918204577447362914200228.html
June 1 – Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) said it plans to open 12 hotels in second and third tier cities in China to meet strong local demand. The US hotel chain expects to operate 80 hotels in the country by the end of 2015.
http://www.linkshop.com.cn/web/archives/2012/211351.shtml
June 1 – Ralph Lauren Corp (NYSE: RL) said it will open 60 outlets in China in the next three years, including 15 outlets each in Hong Kong, Shanghai and Beijing by the end of this year.
http://www.linkshop.com.cn/web/archives/2012/211463.shtml
June 1 – Chinese regulators have approved an Apple Inc (Nasdaq: APPL) device with high-speed wireless-data capabilities, suggesting that the US computer maker is one step closer to selling the latest version of its iPad in China, the Wall Street Journal reported. The device would be compatible with the network of China Unicom Ltd (NYSE: CHU, SHA: 600050, HKG: 0762), Apple's longtime partner when it comes to releasing its iPhone and iPad devices. The notice on the website did not name the device, listed as "model number A1430."
http://online.wsj.com/article/SB10001424052702303640104577436064017202438.html
June 1 – Japan's Sharp Corp expects its revenue from China to grow 55% to ¥60 billion this year, said Sharp China CEO Nobuyuki Sugano.
http://www.yicai.com/news/2012/06/1775516.html
$1 = ¥6.36
@2011 China Economy @ The China Perspective.
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