GM venture gets $821 million loan

Article Abstract:

General Motors Corp.'s unit in Shanghai, China, has secured a US$821 million loan from a Chinese banking consortium led by Shanghai Automotive Group Finance Co. Nine Chinese banks will extend yuan-denominated loans of 350 million yuan ($42.3 million) and 35 foreign and Chinese financial institutions providing $770 million of credit to the unit, which is GM's joint venture with Shanghai Automotive Industry (Group) Corp. The loan, obtained on Sep. 21, 1998, will be used for a project to manufacture luxury sedans, such as Buick, Regal and Century model autos, for the Chinese market.

Comment:

Unit in Shanghai, China, has secured a US$821 mil loan from a Chinese banking consortium

Receipt of funds, Motor Vehicles & Parts, Transportation Equipment Manufacturing, General Motors Corp.

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Higher oil output targeted

Article Abstract:

China's State Petrochemical Industry Bureau plans to increase offshore oil exploration, in an attempt to assist its troubled domestic oil and petrochemical industries. The government body has also urged its state enterprises, China Petrochemical Corp. and China National Petroleum Corp., to reduce their domestic refining volumes, and boost their use of domestic crude oil for refining. Although it was not explained why offshore output will be boostsed, it is known that offshore crude oil if usually meant for export markets.

Comment:

China: State Petrochemical Industry Bureau plans to boost offshore oil exploration to help its oil & petrochemical industries

Government regulation, Crude Petroleum and Natural Gas Extraction, Offshore Crude Petroleum, Petroleum

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Ski resorts in China lack amenities but the slopes can be satisfying

Article Abstract:

The amenities at ski resorts in Yabuli, China, such as the Windmill Village, do not measure up with Japanese and Korean standards, but skiing conditions are quite respectable. Yabuli has diverse skiing areas ranging from bunny slopes for beginners to more challenging ones that are being used by the Chinese national team. Resort amenities that need major amendments include ski equipment and food service.

Management dynamics, Amusement and recreation, not elsewhere classified, Skiing Facilities, Ski Areas, Equipment and supplies, Ski resorts, Skiing, Skis and skiing, Skis

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