Asia Business

GM says China sales to hit 5 million next year

By Mon, Apr 21, 2014 11:45AM UTC Pic: AP.

BEIJING (AP) — The president of General Motors says sales of GM-brand vehicles in China should reach 5 million next year, and Cadillac sales will double to 100,000. Speaking at the Beijing auto show, Dan Amman said Sunday that the Detroit automaker and its Chinese partners plan to open three additional factories this year and two next year.

Japan logs record $134bn trade deficit for 2013

By Mon, Apr 21, 2014 11:30AM UTC Pic: AP.

TOKYO (AP) — Japan’s trade deficit surged nearly 70 percent to a record 13.75 trillion yen ($134 billion) in the last fiscal year as exports failed to keep pace with surging costs for imported oil and gas.

Beijing auto show opens amid market slowdown

By Sun, Apr 20, 2014 1:00PM UTC Auto China 2014 launched in Beijing Saturday. Pic: AP.

BEIJING (AP) — Global and Chinese automakers are looking to the Beijing auto show to help boost sales in a slowing, intensely competitive market. Brands from General Motors Co. to Chinese SUV maker Great Wall Motors are unveiling new and restyled sedans, sport utility vehicles and other models at Auto China 2014 this week.

Strike at China sneaker factory snowballs

By Thu, Apr 17, 2014 5:17PM UTC Pic: AP.

BEIJING (AP) — A labor group says a strike at the world’s biggest athletic shoe maker is snowballing, with about 30,000 of its Chinese workers protesting over insufficient benefits. Workers in the southern city of Dongguan want Taiwanese-owned Yu Yuen Industrial to make social security contributions required by Chinese law

Gap outlines growth plans for China

By Thu, Apr 17, 2014 9:50AM UTC Pic: AP.

NEW YORK (AP) — Gap Inc. says it plans to more than triple sales in China in three years as it seeks to grab a bigger bite of the overall $1.4 trillion global clothing market. The San Francisco-based clothing chain, which operates stores under the Gap, Old Navy, Banana Republic and Athleta brands, generated $300 million in sales in China in the latest fiscal year ended Feb. 1. It says China will be its biggest growth initiative.

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