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July 16 – Guangqi Honda Automobile Co, Honda Motor Co's (NYSE: HMC) largest partner in China, said it sold 176,000 vehicles in the country in 1H 2012, up 17% year on year, buoyed by the launch of models with a 2.4L displacement. Separately, Dongfeng Honda, another of Honda's Chinese partners, has inaugurated its second plant in Wuhan, which is capable of producing 120,000 vehicles per year, increasing its total capacity to 300,000. The annual capacity of Dongfeng Honda's second plant will double to 240,000 vehicles in the years to come.
http://www.yicai.com/news/2012/07/1901920.html
July 13 – Panasonic Corp's (NYSE: PC) latest layoff announcement may include closing its plasma panel factory in Shanghai this year as part of an expense reduction plan after posting a $10 billion loss in 2011. The Japanese electronics maker plans to cut 36,000 jobts worldwide.
http://www.marbridgeconsulting.com/marbridgedaily/2012-07-13/article/57730/rumor_panasonic_to_close_shanghai_plasma_panel_factory
July 13 – Nokia Corp (NYSE: NOK) is closing two regional sales offices in China and laying off staff as it reorganizes its operations in the world's largest smartphone market, the Wall Street Journal reported. The closures involve the company's Chengdu and Shanghai sales offices, a spokesman for Nokia's China business said, without specifying how many people will go.
http://online.wsj.com/article/SB10001424052702303740704577523941297751500.html
July 12 – DHL, one of the world's largest logistics companies, officially launched its $175 million dispatch center at the Shanghai Pudong International Airport, which will serve China, Japan and South Korea, chairman Frank Appel told Yicai.com. It is the largest single investment the German EMS provider has ever made in China. DHL currently collects ¥4.2 billion in revenues from the Greater China region, or 10% of its global total.
http://www.yicai.com/news/2012/07/1891224.html
July 11 – General Mills Inc (NYSE: GIS) is looking to introduce its yogurt brands to China, said Gary Chu, head of General Mills China business.
http://www.ft.com/cms/s/0/5cf130fa-caab-11e1-89be-00144feabdc0.html#ixzz20H93mM3c
July 10 – Apple Inc (Nasdaq: APPL) is advised to either install a chip exclusively compatible with China Mobile Ltd's far-flung network or develop an iPhone specifically for Chinese consumers to snare market share from smartphones using the Android system, which currently dominates the Chinese market. Separately, Apple said it will begin selling the new iPad in China on July 20 as it settled the dispute over its use of the iPad name in the country.
http://tech.qq.com/a/20120710/000228.htm
July 10 – Warburg Pincus LLC paid $200 million for an undisclosed stake in China Auto Rental Holdings Inc, which calls itself the nation's first and largest car rental provider. It was the latest fund injection China Auto Rental has received since it called off its $137.5 million Nasdaq listing in May after it struggled to attract investors. China Auto Rental broke the breakeven point and starting to profit in Q2 2012, according to an employee.
http://cn.reuters.com/article/chinaNews/idCNCNE86904W20120710
$1 = ¥6.32
@2011 China Economy @ The China Perspective.
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