July 31 (Reuters) - Guangzhou Automobile Group Co Ltd
* Says board approves Guangzhou Automobile Group Business Co Ltd to set up logistics centre with total investment at 251.1 million yuan ($40.44 million)
* Says board approves proposal of automobile online platform project with initial investment at 1.4 billion yuan
Source text in Chinese: http://bit.ly/1eFzreu
Further company coverage: ($1 = 6.2097 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)