GM China Investment Co. Ltd. forms new a joint venture to sell used cars throughout China. Called Shanghai Chengxin Used Car Operation and Management Co. Ltd., it is the first Chinese-foreign investor-owned used-car JV to be established in China. GM China and its affiliate Shanghai General Motors Co. Ltd. each hold a 33% stake in the operation. Shanghai Automotive Industry Sales Corp. owns a 34% share. The JV will work with Shanghai GM dealers throughout China to establish dedicated ...
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