Others News
- Domestic brands take up quarter car sales
Date: 1-Nov-2007 Sources: (Shenzhen Daily)
CHINESE automakers sold 940,300 cars with their own brands in the first three quarters of this year, or 27 percent of the country's total car sales, sources with the China Association of Automobile Manufacturers said Tuesday.
Sales of the top 10 Chinese brands, including QQ, Xiali, F3 and A520, amounted to 683,300 units, or 73 percent of the total sales of home brand cars, for the nine months. Earlier reports said between January and September, 4.58 million passenger vehicles were sold nationwide, up 23.84 percent on the same period last year. The figure included 3.44 million cars, up 25.76 percent, 251,700 sports-utility vehicles, up 51.7 percent, and 165,300 multi-purpose vehicles, up 20.75 percent.
Nokia Siemens to cut 350 jobs
TELECOM network gear maker Nokia Siemens Networks will cut 350 jobs at its Chinese operations by the end of 2008 as part of a global restructuring program, a company spokesman said Tuesday. Nokia Siemens employs 5,500 people in greater China. Finnish handset maker Nokia and German conglomerate Siemens decided to combine their telecom network equipment businesses last year to gain scale benefits against rivals such as Ericsson and Shenzhen-based Huawei.
StanChart to launch village bank
ASIA-FOCUSED bank Standard Chartered plans to launch its first China village bank in early 2008 to tap the country's growing rural economy, sources close to the situation said yesterday. London-based StanChart's first China village bank is expected to be based in Inner Mongolia, where farming, mining and dairy are the three major contributors to the local economy, said the sources, who declined to be identified.
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