By Fang Yan and Ken Wills BEIJING, Sept 1 (Reuters) - SAIC Motor Corp is ready to give up its majority ownership in a car venture with General Motors as long as Shanghai GM's revenue can still be included in its books, two people familiar with the matter said on Thursday. Under Chinese accounting rules that came into effect in 2010, a subsidiary's revenue can be reflected in the books of the parent only if the parent is the majority shareholder. That means that if SAIC, now with a 51 ...
Premium Content (PAID Subscription Required)
"SAIC favours 1 pct shr sale in GM JV while keeping revenues -sources" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.