Manufacturing

The deputy GM of Chery Sales, Zheng Zhaori and Yang Hongze explain Chery's plan of new products for next stage.

After Chery brought 3 brand-new logos in front of the market in the begining of this year, Chery still put the biggest value on it's old brand.

50% of 2009 sales (about 210,000 cars) depend on Chery itself, till now, its performance is better than expection. At the end of June 2009, Chery have sold 176,000 cars, so it's very easy to achieve the sales goal of this year. Zheng Zhaori said the sales will reach 300,000 cars positively.

 Fulwin 2 - Chery A13 - is going to ran into the market November this year. As the latest compact car, Fulwin 2 is about 50,000-90,000RMB

Chery will import Tiggo DR from Italy.

As an export model to Italian auto market, Tiggo DR is a facelift version of Chery Tiggo in the same platform.

Chery QQ, the model bring applaud for Chery, is the right time to retire now. Chery is planning to upgrade it in the next year.

Chief policy makers said they are revising earlier targets to create a "greener" environment, adding that new jobs to support the new energy sources also would spur economic growth.

Xie Zhenhua, vice-minister in charge of climate change policy for the National Development and Reform Commission (NDRC), said last week that renewable energy is expected to account for 10 percent of the country's energy resources by 2010 and 15 percent by 2020.

Zhang Xiaoqiang, the NDRC's vice-minister in charge of international cooperation, was more ambitious.

Zhang said recently that China could reach a renewable energy target of at least 18 percent by 2020.

"Personally, I think we could reach the target of having renewable sources make up 20 percent of total energy consumption," Zhang recently told the media in London.

Sun Qin, deputy director of the National Energy Administration, told China Business Weekly that China would soon announce the revised power supply capacity target for 2020 -- a target that might increase to 1,400 to 1,500 gigawatts, or gW, of energy.

The revised target, if approved by the central government, would represent nearly a 50 percent increase from the previous goal set by the government in 2007.

The potential buyer of General Motors Corp's Hummer division will begin formal talks with Chinese regulators on Monday in an effort to win approval for its acquisition, The Wall Street Journal reported on Saturday.

China's Sichuan Tengzhong Heavy Industrial Machinery has agreed to buy the Hummer brand from the bankrupt U.S. automaker but state radio in China reported on Thursday that the country's top economic planning agency was likely to reject the bid.

A GM spokesman was not immediately available to comment on the Journal report while a Tengzhong spokeswoman said the Chinese company is working to get the deal done.

"We don't have a definitive agreement but we're developing our proposals with GM and Hummer and we'll continue to engage with the appropriate authorities in the appropriate manner," said Christina Stenson of the Brunswick Group, the public relations agency for Tengzhong.

Tengzhong's lack of experience and the gas-guzzling nature of Hummer's sport utility vehicles were cited as reasons for the expected opposition by the National Development and Reform Commission, the report said.

However, GM and Tengzhong have yet to formally present the deal to the Chinese regulators and the parties negotiating the deal have not been told it is in trouble, the Journal said, citing unidentified sources.

The Journal quoted one unidentified GM executive as saying talk that the deal would be blocked was not true and should be considered "pure speculation."

Executives from GM and Tengzhong met this week to firm up their plans and are operating under the assumption that the deal has a reasonable chance of getting approved, according to people familiar with the meeting, the Journal said.

GM said on June 2, the day after filing for bankruptcy, that it had tentatively agreed to sell the Hummer brand to Tengzhong, saying it expected the deal to close in the third quarter. GM officials said at the time that they saw no snag in closing the deal.

Based in the Chinese province of Sichuan, Tengzhong makes special-use vehicles, highway and bridge structural components, construction machinery and energy equipment.

In a change in strategy, chip giant Intel Corp. plans to make 65nm devices—not 90nm products—within its new fab in China.

Intel announced two years ago its intention to invest $2.5 billion to build a 300mm fab in the northern Chinese city of Dalian. The fab, to be its first in China, was initially slated to use 90nm technology to make chipsets.

"We originally announced it at 90nm, but said there was a chance that we'd go to 65nm. We have the U.S. government license, so that when we start we'll be on 65nm," according to a spokesman at Intel.

Intel may have missed the market window for 90nm, considered an older technology by the company's standards. Intel itself is ramping up 45nm devices, with 32nm products due by year's end.

Intel has denied rumblings within the semiconductor equipment community that it has pushed out plans for a 300mm fab in China, saying that the company remains on schedule to have the facility in production next year.