Category: China Deals

European Insurer Axa to Purchase Half of China’s Tian Ping

On April 24, Axa SA, Europe’s second-largest insurer, agreed to buy a 50 percent stake in Chinese auto insurer Tian Ping in a deal valued at around $631 million. In an emailed statement to Bloomberg News, Axa said that it...

/ May 6, 2013

Microsoft Signs Patent Deal with ZTE

On April 23, Microsoft signed a patent deal with Chinese smartphone maker ZTE. The deal covers ZTE’s use of the Android and Chrome operating systems, for which Microsoft possesses some intellectual property rights to some of the software’s underlying technologies,...

/ May 6, 2013

GreenTech Automotive Announces Joint Venture with Chinese Partner

GreenTech Automotive, an American manufacturer of all-electric vehicles, and JAC Motors, a Chinese automotive manufacturer, announced on April 22 a joint venture that will develop a five-passenger, all-electric sedan to be assembled in the United States. The sedan will feature...

/ May 6, 2013

Medtronic to Partner with Chinese Think-Tank to Research Diabetes

To improve the treatment of Type 1 diabetes in China, Medtronic Inc. is partnering with the National Institute of Hospital Administration, a Chinese think-tank. Medtronic will conduct research projects and help establish pilot sites for the proposed system at as...

/ May 2, 2013

General Motors Announces Expansion in China

At the Shanghai Auto Show on April 20, General Motors Co. said it would build four new plants in China by the end of 2015, which would give GM the capacity to produce about five million vehicles per year, according...

/ May 2, 2013

China UnionPay Launches First Card in US

On April 29, China UnionPay, which is the largest bank card organization in China, started issuing a prepaid travel card for American tourists and business travelers who frequently visit the Asia-Pacific region. It is the first card UnionPay has issued...

/ May 2, 2013

China Agrees to Buy 60 Jets from Airbus

During a visit to China by France’s President Francois Hollande, state-owned China Aviation Supplies Holding Co. signed an agreement with Airbus SAS to purchase 60 aircraft from Airbus. At list value, the jets would be worth about $8 billion, but the...

/ April 26, 2013

Detroit Electric to Partner with Geely in China

At the Shanghai Auto Show on April 25, Detroit Electric, a start-up electric-car maker, said it will form a joint venture with Zhejiang Geely Holding Group Co. to develop electric vehicles to sell in the Chinese market. The two companies...

/ April 26, 2013

BYD to Open First Chinese Vehicle Plant in US

On April 17, Build Your Dreams (BYD), a Chinese car maker, announced it would open a bus manufacturing plant in Lancaster, CA, the first Chinese-owned vehicle plant to open in the United States. Update 05/01/13: Long Beach Transit, which serves...

/ April 18, 2013

Hertz Buys 20 Percent Stake in China Auto Rental

On April 16, Hertz Co. announced it was buying about a 20 percent stake in China Auto Rental Holdings Inc. to gain access to China’s short- and long-term domestic rental car market.

/ April 17, 2013