GM still runs smoothly in China

GM will be replaced by Japanese Sumitomo 
in the Dow Jones Automobiles & Parts Titans 30 Index before the opening of trading on Thursday.
RISE AND FALL of GM in 100 YEARS
1908
William Durant established General Motors
1918
GM takes over Chevrolet
1919
GM establishes GMAC, offering personal retailing financial services
1925
GM takes over the Vauxhall Motor Company of Britain, which is the first major acquisition for General Motors outside North America. 
1929
GM acquires the Opel of Germany
1983
GM declares the "Saturn's plan", establishing a new subsidiary in U.S.:Saturn Corporation, which produces innovative compact automobiles. 
1989
GM takes over 50 % stake of Swedish Saab, and acquires the remaining 50% in 2000
1999
GM acquires ownership of Hummer
2002
GM acquires the major vehicle assets of South Korean Daewoo Motor
2005
GM announces the reshuffle of enterprises duo to the loss of 10.5 billion U.S. dollars
GM CEO: China will continue to be GM's key partner of business
GM CEO Fritz Henderson said China will continue to be a key partner of business of GM.

Henderson said that GM's venture in China is a critical part of GM, saying its business in China in "growing very fast."

"Our business in China continues to grow very fast, I should say at torrid pace,and we are very appreciable of that."

The business is also "highly successful" and "profitable" with its partner the SAIC (Shanghai Auto Industry Corporation) (SAIC), he said. "SAIC remains a critical partner of General Motors going forward."

"I would say already our business in China is one of our critical part being successful as a global automaker.We had a good start."

"We are very interested and excited about the next five years."


GM bankruptcy filing to have no impact on China business
"Our operations across China will operate normally," said Kevin Wale, president and managing director of GM China Group.

"Our customers will continue to receive top-notch service and warranty coverage, while our dealers will continue to receive product and after-sales parts as usual."

"There will be no impact on payments to employees, dealers or suppliers contracted to GM China or to our joint ventures."

"GM has a specific development plan in China for the next five years that demonstrates our great confidence in the country."

"China has been the largest vehicle market in the world in the first five months of 2009. Industry sales grew 18.8 percent from the same period last year."

"Domestic sales by GM China and our joint ventures continue to be strong, rising 33.8 percent year on year in the first five months. We intend to remain an industry leader in China."
Shanghai GM: GM's bankruptcy filing no substantial impact on Shanghai JV
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A piece of news about the General Motors Corp. filing for bankruptcy protection is seen on the front page of a newspaper in Detroit, the United States, June 1, 2009

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The logo of General Motors Corp. (GM) is seen outside the GM headquarters in Detroit, the United States, May 29, 2009.